IBC Advanced Alloys Launches Copper Alloy Casting Operations in its New Vertically Integrated and Expanded Indiana Facility
04 April 2022 - 9:00PM
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
ChairmanJim Sims, Investor and Public RelationsIBC Advanced Alloys
Corp.+1 (303) 503-6203Email: 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.
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