FRANKLIN, Ind., May 14, 2019 (GLOBE NEWSWIRE) -- IBC Advanced Alloys Corp. (TSX-V: IB; OTCQB: IAALF) (“IBC” or the “Company”), a leading beryllium and copper advanced alloys company, announced today that it has launched commercial production of Beralcast® 363 beryllium-aluminum alloy castings for a major global manufacturer of commercial satellite systems after successfully completing First Article Qualification with the customer.
“This is a very important step toward commercial-scale production of precision beryllium alloy parts for the satellite industry,” said IBC Chairman Mark Smith. “IBC looks forward to ramping up production of these and other units to meet the unique needs of this customer, and to expanding our reach into the global satellite industry for IBC’s investment cast beryllium-aluminum alloy components.”
Ben Rampulla, President of IBC’s Engineered Materials Division, which produces Beralcast® alloy products, said this: ”These components presented an exciting engineering challenge, because competing processes and materials were not able to cost-effectively meet the performance characteristics needed in these very demanding applications. The material properties of Beralcast® 363, combined with IBC’s ability to cast complex geometries, offers tremendous potential to IBC and to the satellite industry.”
IBC’s Beralcast® satellite parts will then be finish machined and will undergo final testing before assembly into a key subsystem for integration into satellites for first launch. Initial production is expected to ramp up over time. Multiple units manufactured by IBC may be used in a single satellite.
According to the Satellite Industry Association, world satellite manufacturing revenues totaled approximately $15.5 billion in 2017, a 10 percent increase over the previous year. This figure does not include satellites built by governments or universities. In all, a record 345 satellites were launched in 2017, according to SIA. IBC sees manufacturing services for the satellite industry as an area of potential future revenue growth for the Company.
For more information on IBC and its innovative alloy products, go here.
On Behalf of the Board of Directors:
"Mark A Smith"
Mark A. Smith, Chairman of the Board
@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”.
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 forward-looking statements regarding the future production by the Company of components for use in the satellite manufacturing industry sector, including the ability to meet performance qualifications, and the potential future revenue growth this may generate for the Company. 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.