The First Successful Pour of a Two-Ton Beryllium-Copper Billet Initiated Production of a Range of Copper Alloy Products in Indiana
IBC’s Consolidation of Two Previous Facilities Into its Flagship Plant in Franklin, Indiana is Expected to Generate Significant Efficiencies and Production Costs Savings
FRANKLIN, Ind., April 04, 2022 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (TSX-V: IB; OTCQB: IAALF) (“IBC” or the “Company”), a leading beryllium and copper advanced alloys company, has launched copper alloy casting at its new and expanded copper alloy foundry facility in Franklin, Indiana. The launch of production at the new facility marks the effective completion of a two-year consolidation of three production facilities into a single vertically integrated manufacturing operation dedicated to producing copper and copper alloy products. The consolidation is expected to generate significant efficiencies and production cost savings for the Copper Alloys Division, as well as enabling the division to expand production and its exposure to new markets.
The IBC team successfully produced several two-ton billets of beryllium-copper alloy material last week at the expanded Franklin plant, including the first billet of beryllium-copper alloy pictured at right. IBC then processes these billets by cutting, forging, heat treating, and machining into a wide variety of custom alloy products for customers in industries such as electronics, oil and gas, automotive, defense, aerospace, injection molding and others.
IBC invested approximately $6 million to expand and modernize its Franklin facility and consolidate its former Missouri and Pennsylvania foundries to the new plant.
“We are thrilled to experience the successful start-up of this expansion,” said Mark Wolma, President of the Copper Alloys division. “It is the culmination of a great deal of planning and hard work by the project manager, Alan Abel, and a tremendous supporting cast.”
“This is a major milestone for IBC and I am very proud of Mark Wolma and the entire Copper Alloys team for working so hard to successfully complete this strategic consolidation and expansion of our Franklin plant,” said Mark A. Smith, CEO and Chairman of IBC. “This consolidation marks the start of a new era for Copper Alloys, and the Board and I look forward to seeing the facility continue to ramp up to full-scale production as soon as possible.”
Behalf of the Board of Directors:
“Mark A. Smith”
Board Chairman
Contacts:
Mark Smith, Board Chairman
Jim Sims, Investor and Public Relations
IBC Advanced Alloys Corp.
+1 (303) 503-6203
Email: jim.sims@ibcadvancedalloys.com
Website: www.ibcadvancedalloys.com
@IBCAdvanced $IB $IAALF #MarkSmith #missioncritical #copper #beryllium #IBC
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 and Massachusetts. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQB under the symbol "IAALF".
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the 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 press release.
