WATKINS, MN and VANCOUVER, BC--(Marketwire - October 9, 2007) - International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), a manufacturer of
proprietary fire-resistant building materials, shipped 1,883,300 sq ft of
Blazeguard materials for the quarter ending September 30, 2007, resulting
in revenues of $1,249,555 (vs. 2,691,000 sq ft and revenue of $1,989,061
for the same period last year). Commercial Modular shipments grew to
1,550,700 sq ft, a 30% increase over the sq ft shipped for the same period
last year. The double digit growth in commercial modular segment continues
to be offset by the stagnant residential market. Barrier is focusing
efforts on capturing market share in new territories, through the recent
addition of sales representatives, and in new market applications for
Blazeguard products to further diversify and reduce cyclical market swings
in the future.
One new market Barrier is pursing is applications that are required by code
to meet stricter strength requirements for seismic prone geographies, in
addition to fire resistance. Barrier is pleased to announce that recent
tests conducted at Progressive Engineering Incorporated (PEI) in Goshen, IN
have resulted in a published test report that portends Blazeguard panels
have a significant increase in racking strength relative to "untreated" APA
rated panels. Barrier intends to work with architects and code officials
in earthquake prone regions to introduce Blazeguard as a solution to their
seismic and fire building code requirements. Potential applications include
both interior and exterior rated walls.
"The test results from PEI are both timely and exciting as we continue to
introduce Blazeguard to the Southern California market, an area prone to
earthquakes and fire," states Dr. Michael Huddy, President and CEO of
Barrier Technology. "California's new building code, scheduled to take
effect on January 1, 2008, recognizes a great need for building materials
engineered to help architects and builders design homes to withstand the
perils of both fire and earthquakes. We are confident that Blazeguard can
be a part of an economic solution to this objective. Successful completion
of the R&D initiative with PEI will result in the attainment of all
certifications and listings required to utilize Blazeguard in these
applications and will provide an opportunity for substantial growth in
Blazeguard sales in the future."
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