IBC Awarded Hard Tooling Contract for Lockheed Martin’s Sniper® Advanced Targeting Pod Components
posted on Sep 9, 2015
WILMINGTON, MASACHUSSETS and VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 9, 2015) -IBC Advanced Alloys Corp.(OTCQX:IAALF)(TSX VENTURE:IB) ("IBC" or the "Company") has been awarded an investment casting hard tooling contract from Lockheed Martin for its Sniper® Advanced Targeting Pod (ATP) components.
Sniper(R) Advanced Targeting Pod (ATP)
Under the terms of the contract, IBC, through its Engineered Materials division, will be responsible for the design, manufacture and implementation of the hard tooling to be used as a part of the final qualification process to establish and qualify Beralcast® castings as an effective beryllium-aluminum alternative for precision targeting components for Sniper ATP.
Chris Huskamp, President of IBC's Engineered Materials division said, "Sniper ATP is an interoperable system across multiple aircraft platforms and sets the benchmark for next-generation electro-optical targeting systems. Our family of castable beryllium aluminum alloys, or Beralcast®, is ideal for applications such as Sniper ATP where weight, modulus and temperature stability (CTE) are critical performance factors. We are delighted," continued Huskamp, "to be expanding our relationship with Lockheed Martin and are proud to be part of the Sniper program."
Sniper ATP provides pilots with high-resolution imagery for precision targeting and non-traditional intelligence, surveillance and reconnaissance missions. Sniper ATP is the most widely deployed targeting system for fixed-wing aircraft in use by the U.S. Air Force and is the targeting system of choice for 20 international air forces.
In addition to fulfilling precision strike mission requirements, Sniper ATP is changing the way armed forces operate in theater with new capabilities to meet the challenges of non-traditional intelligence, surveillance and reconnaissance.
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.
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.
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