logo-loader

IBC Advanced Alloys signs exclusive supply deal for Beralcast alloys

Published: 15:37 02 Jun 2011 EDT

no_picture_pai

IBC Advanced Alloys (CVE:IB) announced Thursday it has signed an exclusive supply agreement to supply its engineered components to an undisclosed manufacturer of high-tech assembly equipment.

The terms of the exclusive agreement ensure supply and revenue certainty for between one and three years, IBC said.

IBC's Engineered Materials division, which it acquired from Beralcast Corp. last March in a cash and share deal, will provide the customer with advanced investment-castings made from the company's Beralcast family of alloys.

The alloys are well-suited to assembly equipment and aerospace applications, mainly due to their light weight, their low level of thermal expansion, and their strength. The primary Beralcast alloy is over three times as stiff as, and 22% lighter than aluminum.

"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 IBC president and CEO, Anthony Dutton.

"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."

While there is no minimum ordering requirement, the rare metals-based manufacturer and distributor said it is confident that if existing and historical ordering levels are maintained, the deal will generate a minimum of $4 million in annual revenues for IBC's Engineered Materials unit.

Vancouver, B.C.-based IBC, whose stock on the TSX Venture Exchange was trading at $0.185 per share as of Thursday afternoon, has manufacturing facilities throughout the U.S., including Indiana, Massachusetts, Pennsylvania and Missouri.

It also owns prospective beryllium properties across the Western U.S., covering approximately 9,500 hectares.

BenevolentAI advances novel ulcerative colitis treatment through Phase 1a trial

BenevolentAI (OTC:BAIVF) chief scientific officer Dr Anne Phelan joins Proactive's Stephen Gunnion with positive safety data from the Phase 1a, first-in-human, clinical study of BEN-8744 in healthy volunteers. Phelan explained that BEN-8744 is a potent, selective PD10 inhibitor, uniquely...

1 hour, 7 minutes ago