VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2012) - IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQX:IAALF) ("IBC" or the "Company") reports that it has signed a memorandum of understanding ("MOU") with Inrad Optics Inc. (OTCQX:INRD) to evaluate the technical and commercial viability of IBC's proprietary Beralcast® alloys as an effective enhancement to its high quality of custom high performance advanced optic products. Under the terms of the MOU, the parties have agreed to collaborate on mutually beneficial projects and evaluate the viability and commercialization of IBC's proprietary Beralcast® alloys as a cost effective alternative substrate material for components of custom precision optical systems. This MOU builds on the successful results of an initial informal test project already completed between the two companies and demonstrates a long term commitment to materials optimization and manufacturing excellence.
Inrad Optics is a vertically-integrated photonics manufacturer offering crystal-based optical components and devices, custom optical components from both glass and metal and precision optical and opto-mechanical assemblies. Its components and photonic devices are used in a wide variety of defense, aerospace, laser, medical, process control and metrology applications. Inrad specializes in applying advanced manufacturing systems to crystal, glass and metal substrates.
"IBC Advanced Alloys is pleased to sign this MOU with Inrad Optics which will demonstrate the increased viability of our Beralcast® alloys and cast components," said Ray White, President of IBC Engineered Materials Corporation. "IBC's partnership and collaboration with Inrad Optics advances the potential for our engineered materials products," continued White, "and demonstrates our continued commitment in identifying and evaluating alternative uses for our Beralcast alloys."
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® 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.
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.
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.