IBC Engineered Materials Awarded Hard Tooling Contract from Lockheed Martin for F-35 Lightning II Application
19 February 2014 - 1:00AM
Marketwired
IBC Engineered Materials Awarded Hard Tooling Contract from
Lockheed Martin for F-35 Lightning II Application
Tooling for Beralcast(R) casting of F-35 Lightning II
Electro-Optical Targeting System Components
WILMINGTON, MASSACHUSETTS--(Marketwired - Feb 18, 2014) - IBC
Advanced Alloys Corp. (TSX-VENTURE:IB)(OTCQX:IAALF) ("IBC" or the
"Company") reports that its wholly owned US subsidiary, IBC
Engineered Materials Corp. ("IBC-EMC"), has been awarded an
investment casting hard tooling contract from Lockheed Martin in
support of its F-35 Lightning II Electro-Optical Targeting System
(EOTS).
Under the terms of the contract, IBC-EMC will be responsible for
the design, manufacture and implementation of hard tooling to be
used as a part of the final qualification process to establish
Beralcast® castings as an effective beryllium-aluminum alternative
for precision optical components for the F-35 Lightning II.
As previously disclosed, IBC-EMC is demonstrating the viability
of Beralcast® castings to improve lead times and affordability of
high performance aerospace components made from beryllium aluminum
alloys. IBC-EMC has completed several advanced prototype castings
and will now use the hard tooling to deliver a first article
casting for pre-production approval.
"IBC is pleased to have received a hard tool contract from
Lockheed Martin," said Ray White, President of IBC-EMC. "We are
committed to demonstrating the viability of Beralcast® castings
with a hard tool and to completing the final stages of our
materials and processing qualifications."
"It is an honor to be working with Lockheed Martin," said
Anthony Dutton, President and CEO of IBC. "Our Company is committed
to delivering advanced beryllium aluminum casting solutions, not
only for Lockheed Martin and the F-35 Lightning II but also for
other aerospace industry initiatives where modulus, weight and cost
are critical performance factors."
Beralcast® alloys can be used in virtually any high performance
application requiring complex, lightweight and high-stiffness parts
and can be substituted for aluminum, magnesium, titanium, metal
matrix composites as well as pure beryllium or powder metallurgy
beryllium-aluminum. Beralcast's® principal alloys are more than
three times stiffer than aluminum with 22% less weight and can be
precision-cast for simple and complex three-dimensional stability.
These high-modulus alloys are ideal for high performance industrial
and high tech components as well as for a wide range of aerospace
applications.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals
(beryllium) based alloys and related products serving a variety of
industries including nuclear energy, automotive, telecommunications
and a range of industrial applications. IBC has 80 employees and is
headquartered in Vancouver, Canada with production facilities in
Indiana, Massachusetts, Pennsylvania and Missouri. IBC is creating
a dynamic global beryllium and advanced alloys company. IBC's
common shares are traded on the TSX Venture Exchange under the
symbol "IB" and the OTCQX under the symbol "IAALF".
This news release was prepared by management of IBC, which
takes full responsibility for its contents. The TSX Venture
Exchange has not reviewed and does not accept responsibility for
the adequacy of this news release. 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 certain forward-looking statements
that involve substantial known and unknown risks and uncertainties,
certain of which are beyond the Company's control including: the
impact of general economic conditions in the areas in which the
Company operates, industry conditions, changes in laws and
regulations including the adoption of new environmental laws and
regulations and changes in how they are interpreted and enforced,
increased competition, the lack of availability of qualified
personnel or management, limited availability of raw materials,
fluctuations in commodity prices, foreign exchange or interest
rates, stock market volatility and obtaining required approvals of
regulatory authorities. In addition there are risks and
uncertainties associated with manufacturing activities therefore
the Company's future results, performance or achievements could
differ materially from those expressed in these forward-looking
statements. All statements included in this press release that
address activities, events or developments that the Company
expects, believes or anticipates will or may occur in the future
are forward-looking statements. These statements are based on
assumptions made by the Company based on its experience, perception
of historical trends, current conditions, expected future
developments and other factors it believes are appropriate in the
circumstances.
IBC Advanced Alloys Corp.Ian TootillDirector of Corporate
Communications(604) 685-6263 ext
110itootill@ibcadvancedalloys.comwww.ibcadvancedalloys.comThe
Howard Group Inc.Dave Burwell(403) 221-0915 or Toll Free:
1-888-221-0915info@howardgroupinc.com
IBC Advanced Alloys (QB) (USOTC:IAALF)
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