FRANKLIN, Ind., Sept. 05, 2018 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (TSX-V: IB; OTCQB: IAALF) (“IBC” or the “Company”) a leading beryllium and advanced copper alloys company, announces that it has been awarded a contract from a major global manufacturer of commercial satellite systems for a First Article Qualification of Beralcast® 363 beryllium-aluminum alloy cast components and subsequent serial production units for satellites.
IBC will produce first article demonstration components related to satellite platforms. Assuming the initial components meet performance qualifications, IBC will then produce components for integration into satellites for first launch. Multiple units manufactured by IBC may be used in a single satellite.
According to the Satellite Industry Association, world satellite manufacturing revenues totaled approximately $15.5 billion in 2017, a 10 percent increase over the previous year. This figure does not including satellites built by governments or universities. In all, a record 345 satellites were launched in 2017, according to SIA.
IBC sees manufacturing services for the satellite industry as an excellent area of potential future revenue growth for the Company.
”Satellites are a unique engineering challenge that balances tight packaging requirements, minimized launch weights, and management of thermal extremes. Beralcast® 363 is a uniquely suited solution to help satellite design teams achieve performance targets,” said Chris Huskamp, President of IBC’s Engineered Materials Division, which produces Beralcast® alloy products.
“While this contract is for prototype parts, I view this as a very significant order from a new commercial customer that demonstrates yet another important application for our casting alloy,” said IBC’s President and Chief Executive Officer, Major General Duncan Heinz (USMC, ret.). “I have no doubt that our products will perform well in the very harsh environment of space, and we look forward to a long relationship with this customer.”
For more information on IBC and its innovative alloy products, go here.
On Behalf of the Board of Directors:
"Duncan Heinz”
Duncan Heinz, President, CEO and Director
Contact:
Jim Sims, Investor and Public Relations
IBC Advanced Alloys Corp.
+1 (303) 503-6203
Email: jsims@policycom.com
Website: www.ibcadvancedalloys.com
@IBCAdvanced $IB $IAALF
About 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 STATEMENTS
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. This disclosure contains forward-looking statements regarding the production of components for use in the satellite manufacturing industry sector, including the ability to meet performance qualifications, and the potential future revenue growth this may generate for the Company. Although IBC believes that the expectations reflected in this forward-looking statement are reasonable, forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statement. The forward looking statements made by the Company in this press release are based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against relying on any of these forward-looking statements. IBC makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as required by applicable law. Additional information identifying risks and uncertainties is contained in IBC’s filings at www.sedar.com.