🕐23.11.09 - 16:23 Uhr
IBC Advanced Alloys Signs Letter of Intent with Kazatomprom
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Re: News Release - Monday, November 23, 2009
IBC Advanced Alloys Signs Letter of Intent with Kazatomprom
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VANCOUVER, BC -- November 23, 2009 -- IBC Advanced Alloys Corp.
(TSX-V:
IB) ("IBC" or the "Company") is pleased to announce that it has signed
a letter of intent (the "LOI") with Kazatomprom, the national atomic
company of Kazakhstan.
The LOI is expected to strengthen the companies
existing relationship by addressing long-term supply agreements,
co-investment opportunities as well as initiatives to support IBCs
beryllium enhanced nuclear fuel project.
Under the terms of the LOI, Kazatomprom and IBC have outlined the terms
of three specific initiatives.
First, the companies have agreed to
negotiate a binding three-year supply agreement whereby Kazatomproms
wholly owned subsidiary, Ulba Metallurgical Plant, will supply
beryllium and beryllium alloys to IBC on pre-agreed terms.
Second,
Kazatomprom and IBC agree to explore strategic partnerships, which may
include direct or indirect investment that will support the growth of
the beryllium business for the benefit of both parties.
Third, the
companies have agreed to assess the feasibility of a Kazakhstan based
high volume beryllium oxide production facility to support IBCs
growing nuclear fuels initiative.
The LOI is intended to advance the memorandum of understanding (the
"MOU") signed by both parties on the April 20 of this year.
The MOU was
recognition by Kazatomprom and IBC as to the benefits of exploring and
developing a long-term strategic vision for the global beryllium
business and for establishing areas of mutual cooperation.
"We are very pleased to have signed this LOI with Kazatomprom," stated
Anthony Dutton, President and CEO of IBC, "as it confirms our mutual
cooperation and support for the global beryllium business and
demonstrates significant progress since our meeting in Almaty earlier
this year.
Kazatomprom and IBC are firmly committed to the future of
the beryllium business, both in terms of the existing market as well as
new growth opportunities," continued Dutton, "and we look forward to
strengthening our relationship with our Kazakh colleagues as we develop
our global beryllium business together."
About IBC Advanced Alloys Corp.
IBC Advanced Alloys Corp.
is an integrated manufacturer and distributor
of beryllium-based alloys and related products serving a variety of
industries including nuclear energy, automotive, telecommunications and
a range of industrial applications.
IBC has 59 employees and is
headquartered in Vancouver, Canada with production facilities in
Pennsylvania, Indiana and Missouri.
Additionally, IBC owns prospective
beryllium properties in the Western US and Brazil covering
approximately 9,500 hectares.
IBC is creating a dynamic global
beryllium and advanced alloys company.
IBCs common shares are traded
on the TSX Venture Exchange under the symbol "IB".
For additional information please contact:
IBC Advanced Alloys Corp.
Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110
Email:
Website: www.ibcadvancedalloys.com
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.
Legal Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements," as that term
is defined in Section 27A of the United States Securities Act of 1933,
as amended, and Section 21E of the United States Securities Exchange
Act of 1934, as amended.
Statements in this news release which are not
purely historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future.
Such forward-looking statements include, among
others, the expectations and/or claims, as applicable, that: (i) IBC is
creating a dynamic global beryllium and advanced alloys company (ii)
IBC, Kazatomprom and Ulba will develop a strategic relationship; (iii)
that the strategic relationship if developed will improve manufacturing
and marketing efficiencies while broadening the opportunities for
beryllium metal and beryllium-based alloys and intermediate products
(iv) that the development of strategic relationship and joint
initiatives that will expand IBCs global reach and bring Kazatomprom
and IBC closer together.
Actual results could differ from those projected in any forward-looking
statements due to numerous factors.
Such factors include, among others:
(i) the risk that IBC does not execute its business plan; (ii) the
inability of IBC to keep pace with market requirements; (iii) IBCs
inability to maintain key relationships with suppliers and customers;
(iv) IBC not being able to retain key employees; (v) competitors
providing better or cheaper products; (vi) markets for IBCs products
not developing as expected; (vii) IBCs inability to finance its
operations or growth; (viii) inability to obtain all necessary
government and regulatory approvals; and (ix) the inability to
effectively market IBCs products, including the establishment of
viable relationships with third parties; (x) fluctuating beryllium
prices may negatively impact IBCs business plans and strategies.
These
forward-looking statements are made as of the date of this news release
and IBC assumes no obligation to update the forward-looking statements,
or to update the reasons why actual results could differ from those
projected in the forward-looking statements.
Although IBC believes that
the beliefs, plans, expectations and intentions contained in this press
release are reasonable, there can be no assurance those beliefs, plans,
expectations, or intentions will prove to be accurate.
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Copyright (c) 2009 IBC ADVANCED ALLOYS CORP (IB) All rights reserved.
For more information visit our website at
http://www.ibcadvancedalloys.com/ or send
mailto:
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