FRANKLIN, Ind., March 05, 2019 (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 new purchase order from Kaman Corporation (NYSE:KAMN) (“Kaman”) to supply critical imaging system components made from IBC’s proprietary beryllium-aluminum Beralcast™ alloy that will be used on US naval and foreign military tactical aircraft.
Production under the new contract is expected to begin immediately, with the first components scheduled for delivery in the second calendar quarter of 2019. The quantity of components under the contract represent early-stage production. However, Kaman is a repeat customer of IBC and, based on past program purchases, IBC expects to make further sales of related components for these systems.
“We are pleased and excited to see this additional business from Kaman, whom we greatly value as a repeat customer,” said Mark A. Smith, IBC Board Chairman. “IBC looks forward to our ongoing work with Kaman in support of this very important program, and to seeing our production expand in the future.”
Ben Rampulla, President of IBC’s Engineered Materials Division, said: “Industry leaders like Kaman are committed to excellence in aerospace systems and are continuing to choose IBC’s Beralcast® cast alloys for their precision applications. When you compare Beralcast™ to more traditional machined components, our product offers defense and aerospace contractors a more cost-effective and time-saving solution when modulus, weight, and thermal expansion are critical design criteria.”
Beralcast® alloys are ideally suited to many aerospace applications where low weight, high stiffness, and cost/performance are critical performance factors. Beralcast® alloys are three times stiffer and 22% less weight per unit volume than aluminum. Beralcast® alloys can be an engineered substitute for aluminum, magnesium, titanium, metal matrix composites, pure beryllium, or powder metallurgy beryllium-aluminum materials in the appropriate applications.
Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut, conducts business in the aerospace and industrial distribution markets. The company produces and markets proprietary aircraft bearings and components; super precision, miniature ball bearings; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; safe and arming solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; restoration, modification and support of our SH-2G Super Seasprite maritime helicopters; manufacture and support of its K-MAX® manned and unmanned medium-to-heavy lift helicopters; and engineering design, analysis and certification services. The company is a leading distributor of industrial parts, and operates approximately 220 customer service centers including five distribution centers across the U.S. and Puerto Rico.
For more information on IBC and its innovative alloy products, go here.
On Behalf of the Board of Directors:
"Mark Smith ”
Mark Smith P.E., Esq. , Chairman
Contact:
Mark A. Smith, Chairman
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 a forward-looking statement regarding the production of components for Kaman and potential future sales of related components. 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.