IBC Advanced Alloys Corp, a leading advanced alloys and precision castings company, has received a purchase order from UTC Aerospace Systems, a unit of United Technologies Corp. to supply advanced Beralcast® components for critical imaging systems used on a variety of US and foreign military aircraft.
The contract was signed with UTC Aerospace Systems' unit based in Danbury, Connecticut.
Production on the new contract has begun at IBC's Wilmington, MA facility with the first components scheduled for delivery prior to IBC's 2015 fiscal year end of June 30. Terms of the order are not disclosed.
"IBC is a leader in the casting of high performance optical targeting systems where weight savings and high modulus are critical performance factors," said Ray White, President of IBC's Engineered Materials division. "Our Beralcast® castable alloys are ideally suited to precision aerospace applications and can uniquely offer contractors cost effective solutions compared to machined components. We are delighted," continued White, "to be working with UTC Aerospace Systems and look forward to an opportunity to support them in additional programs."
Beralcast alloys are ideally suited to many aerospace applications where lightweight, high modulus and cost are critical performance factors. Beralcast® alloys are three times stiffer and weigh 22% less than aluminum. Beralcast® alloys can be an engineered substitute for aluminum, magnesium, titanium, metal matrix composites, pure beryllium or powder metallurgy beryllium-aluminum materials in the appropriate applications.
UTC Aerospace Systems designs, manufactures and services integrated systems and components for the aerospace and defense industries. UTC Aerospace Systems supports a global customer base with significant worldwide manufacturing and customer service facilities.
United Technologies Corp., based in Hartford, Connecticut, provides high technology products and services to the building and aerospace industries.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 80 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating a dynamic global beryllium and advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQX under the symbol "IAALF".
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This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing activities therefore the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.