WATKINS, MN and VANCOUVER, BC--(Marketwire - September 18, 2007) - International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), a manufacturer of
proprietary fire-resistant building materials, reports monthly shipments of
569,100 sq ft and total sales revenue of $388,929 for the month ending
August 31, 2007. In the same period the previous year, Barrier shipped a
then record amount of 885,100 sq ft, a record shipment month exceeded only
by the current record month of September 2006. Sales revenue in August 2006
was also a record at that time at $640,603.
Sales growth continues to occur in the commercial modular segment where
sales grew from 411,500 sq ft to 477,200 sq ft, a gain of 16%. Sales to
residential markets, down over 80% from the record pace of 2006, continue
to drag due to the market economy for housing. One bright spot emerged,
however, as sales to the Mid-Atlantic region grew 288% from 23,040 sq ft in
2006 to 89,500 sq ft in 2007. Additionally, sales in the residential
market have begun to trend up as housing starts stabilize at new levels in
certain US geographies. Blazeguard sales to residential markets grew 31%
for the two-month period comparison for July/August versus May/June.
"The building industry continues to send mixed signals on the depth and
expected duration of the housing slowdown," reports Michael Huddy,
Barrier's President and CEO. "What we know for sure, however, is that there
remains a latent demand for new home construction all over the country.
While some regions will recover faster than others, housing construction
will continue to occur in the interim and commercial construction will
continue to grow. Builders, and the suppliers of building materials, that
can ride out the correction that is occurring presently, will emerge at the
end of this cycle poised to prosper."
"While significant gains in residential market sales over the next few
months will be difficult to provide, Barrier continues to improve market
share in the areas we currently operate in," reports Huddy. "Through the
significant investment in research and development we are currently making,
which has been designed to further certify Blazeguard and confirm code
compliance in new market applications, Barrier will add considerably to our
customer and interest base, providing ample opportunity for significant
sales growth by the end of this fiscal year."
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