WATKINS, MN and VANCOUVER, BC--(Marketwire - June 12, 2007) - International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), a manufacturer of
proprietary fire-resistant building materials, is pleased to report growth
of 60% in Blazeguard shipments into the Commercial Modular Sector for the
month of May. For the month ending May 31, 2007 Barrier shipped a total of
744,352 sq. ft. of Blazeguard products, in comparison to 769,120 total sq.
ft. from May 2006. Of that total, 693,800 sq. ft. was shipped into the
commercial modular segment vs. 432,700 sq. ft. last May. For the month,
$466,216 in sales revenue ($236,621 generated from the treatment of
commercial modular products and $21,479 was generated from the treatment of
Residential Roof Deck materials) was captured.
Year to date sales volumes continue to remain higher despite a continued
slow down in housing starts. Sales of Blazeguard products from July 2006
through May 2007 are 8,113,800 sq. ft. in comparison to 7,047,600 sq. ft.
during the same eleven months last year. This is an increase of 15%.
Sales revenues for those same time periods are $5,666,605 and $5,964,405,
respectively. However, sales revenues have actually increased by 6% after
adjusting $626,503 for the decrease in pass through sheathing costs.
Sheathing costs have declined substantially due to the slowing demand.
"Barrier is very happy to have diversified into the commercial markets back
in 2004," reports Michael Huddy, Barrier's President and CEO. "Thankfully
while residential housing starts continue in the doldrums compared to 2005
and 2006, commercial business seems to be strengthening and offsetting the
current decline in business to residential markets."
About International Barrier Technology Inc.
International Barrier Technology Inc. (
OTCBB:
IBTGF) (
TSX-V:
IBH) develops,
manufactures, and markets proprietary fire-resistant building materials
branded as Blazeguard®. Barrier's award-winning Blazeguard® wood panels
use a patented, non-toxic, non-combustible coating with an extraordinary
capability: it releases water in the heat of fire. The panels exceed
"model" building code requirements in every targeted fire test and
application, and are unique in combining properties that increase panel
strength and minimize environmental and human impact. Blazeguard®
provides Barrier's customers a premium material choice meeting an
increasingly challenging combination of requirements in residential and
commercial building construction. Blazeguard® customers include many of
the top multifamily homebuilders, and commercial modular building
manufacturers in the United States.
INTERNATIONAL BARRIER TECHNOLOGY INC.
Michael D. Huddy
President, Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS
RELEASE.
Forward-Looking Information: The statements in this news release contain
forward-looking information within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements involve
certain risks, assumptions and uncertainties, including but not limited to
the ability to generate and secure product sales. In each case actual
results may differ materially from such forward-looking statements. The
company does not undertake to publicly update or revise its forward-looking
statements even if experience or future changes make it clear that any
projected results (expressed or modified) will not be realized.
Contact Information: Melissa McElwee
Investor Relations Manager
International Barrier Technology
(866) 735-3519
For more information please visit:
www.intlbarrier.com