IBC Continues to Produce Strategic Alloys Because of its Role as an Essential Part of the U.S. Defense Industrial Base
FRANKLIN, Ind., April 02, 2020 (GLOBE NEWSWIRE) — IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) announced that it is continuing to manufacture its strategic alloy products because of the Company’s essential role as part of the U.S. Defense Industrial Base. The Company is pleased to report that all four of its U.S. facilities remain in operation and are serving customers in both the defense and commercial sectors.
IBC manufactures a variety of beryllium-aluminum, beryllium-copper, and other specialty copper alloy products that are used in military and national defense applications, as well as in automotive, aerospace, industrial, oil and gas, and other industries. To learn more about the products that IBC manufactures, please go here: https://www.ibcadvancedalloys.com/products“IBC is taking all necessary precautions to protect the health and safety of our employees and their families, and we are closely following the directives of the governors in each of the four U.S. states in which we operate,” said Mark A. Smith, IBC Board Chairman. “We are also proud to continue serving as productive members of the U.S. Defense Industrial Base, as well as meeting the needs of our many customers in multiple commercial markets.”“Demand for IBC’s products has shown strong upward trends in recent months,” Mr. Smith added. “While the COVID-19 pandemic will have an impact on us and virtually all other companies in our sector, we look forward to seeing demand continue an upward trend once the U.S. and global economies return to full force.”On Behalf of the Board of Directors:“Mark Smith”Mark Smith P.E., Esq., ChairmanContact:Mark A. Smith, Chairman
Jim Sims, Director of Investor and Public Relations
+1 (303) 503-6203
Email: [email protected]@IBCAdvanced $IB $IAALF #Beryllium #BeralcastAbout IBC Advanced Alloys Corp.IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC’s Copper Division manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. IBC’s Engineered Materials Division makes the Beralcast® family of alloys, which can be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC’s has production facilities in Indiana, Massachusetts, Pennsylvania, and Missouri. The Company’s common shares are traded on the TSX Venture Exchange under the symbol “IB” and the OTCQB under the symbol “IAALF”.Cautionary StatementsThe TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information contained in this news release may be forward-looking information or forward-looking statements as defined under applicable securities laws. Forward-looking information and forward-looking statements are often, but not always identified by the use of words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “will”, “may” and “should” and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, demand for IBC’s products and trends regarding same. Forward-looking statements 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 or its customers operate, including the semiconductor manufacturing and oil and gas industries, the impact of COVID-19 on the Company’s industry and economy generally, risks associated with manufacturing activities, 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. As a result of these risks and uncertainties, 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.Please see “Risks Factors” in our Annual Information Form available under the Company’s profile at www.sedar.com, for information on the risks and uncertainties associated with our business. Readers should not place undue reliance on forward-looking information and statements, which speak only as of the date made. The forward-looking information and statements contained in this release represent our expectations as of the date of this release. We disclaim any intention or obligation or undertaking to update or revise any forward-looking information or statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.