IBC Advanced Alloys Signs AgreementIBC Advanced Alloys
Corp. (TSX VENTURE:IB) ("IBC" or the "Company") has signed an exclusive supply
contract to provide investment-cast engineered components to a global leader
in the design and manufacture of high-technology assembly equipment. The
customer is a highly regarded industry pioneer that has provided customers
with market leading solutions and process technology expertise for decades.
In recognition of the customer's high quality requirements and IBC's leading
edge technologies and customer commitment, the parties have agreed to an
exclusive supply agreement to ensure supply and revenue certainty for between
one and three years. Under the terms of the agreement, IBC's Engineered
Materials division (formerly Beralcast Corp.) will provide its customer with
advanced investment castings manufactured using the Company's high performance
Beralcast(R) family of alloys.
"This is a very significant business development for IBC and we are pleased to
be recognized as an essential and high-quality member of our customer's supply
chain," said Anthony Dutton, President and CEO of IBC. "This exclusive supply
agreement validates IBC's technology and business model and demonstrates our
commitment to providing advanced alloys and materials solutions to our global
customers. We are looking forward," continued Dutton, "to working closely with
our customer and to supporting their international reputation for
manufacturing excellence."
IBC has enjoyed preferred supplier status with this customer since it acquired
the Massachusetts based Engineered Materials division in March 2010 and has a
strong track record of high quality and on time deliveries. While no minimum
ordering requirements are stipulated under this new exclusive supply
agreement, IBC management is confident that if existing and historical
ordering levels are maintained, the agreement has the potential to generate a
minimum of $4 million in annual revenues for its Engineered Materials
division.