IBC Signs Two-Year Supply Agreement with a Leading Global Designer and Manufacturer of Semiconductor Assembly Equipment
FRANKLIN, Ind., Oct. 22, 2019 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (“IBC” or the “Company”) (TSX-V: IB; OTCQB: IAALF) today announced that it has signed a two-year supply agreement with a leading global manufacturer of semiconductor and electronics assembly equipment under which IBC will supply Beralcast® 363 cast components in multiple design configurations over a two-year period.
Subject to the parameters set forth in the supply agreement, all purchase orders are at the discretion of the purchaser, and no proceeds may be realized under the supply agreement. However, if minimum order quantities are received, the agreement may result in purchase orders totaling approximately US$2.5 million over the term of the agreement.
IBC has supplied Beralcast® components to this customer for more than 10 years, and recently completed a collaboration with the customer to further optimize the design of IBC’s Beralcast® part.
“High-performance automation and manufacturing are great applications for Beralcast® materials,” said IBC Engineered Materials President Ben Rampulla. “Robotics, precision manufacturing, and automated assembly equipment use sophisticated designs and complex components to meet demanding design criteria and critical tolerances. IBC’s Beralcast® components are ultra-lightweight, with high modulus and excellent thermal characteristics, and are ideally suited to applications requiring high precision and performance. We are excited to be involved in precision manufacturing and to continue to expand our long-term relationship with this customer.”
IBC Board Chairman Mark Smith commented: “We are pleased to be strengthening our relationship with a recognized global leader in this industry sector, and we look forward to supporting them for many years to come. IBC’s collaboration with this customer to improve the design of our Beralcast® part illustrates how IBC works in partnership with our customers to maximize the design and effectiveness of the products we deliver. Those product development partnerships are key to building long-term relationships with our customers and helping to better meet their current and future needs.”
Beralcast® alloys are ideally suited to many applications where lightweight, high modulus, and cost are critical performance factors. The principal Beralcast® alloys are three times stiffer than aluminum with 22% less weight and can be substituted for aluminum, magnesium, titanium, metal matrix composites as well as pure beryllium or powder metallurgy beryllium-aluminum.