IBC Advanced Alloys Engages Automotive Materials Expert
October 12 2011 - 9:00AM
Marketwired
IBC Advanced Alloys Corp. (TSX VENTURE:IB)(OTCQX:IAALF)(PINK
SHEETS:IAALF) ("IBC" or the "Company") has engaged an
internationally recognized high performance autosports materials
and metallurgical consultant to assist the Company in developing
and implementing a range of business and product development as
well as growth initiatives aimed at the competitive autosports
market.
Chris Huskamp is currently an Associate Technical Fellow at The
Boeing Company in St. Louis where he is involved in developing high
performance materials strategies and solutions for a variety of
military and commercial aerospace projects. He is also the owner
and president at Huskamp Motorsports Engineering where he provides
consulting services to Formula One, Grand-Am Daytona Prototypes,
IndyCar, ARCA, and Formula 1 PROP boat teamsand suppliers including
Lotus Renault GPand others. Chris is also a member of the Sports
Car Club of America's Formula/SportsRacer Advisory Committee.
"I am very excited to be involved with IBC and their automotive
strategy which I believe holds enormous promise both for the
Company and the industry," said Chris Huskamp. "I have been
involved with auto racing for more than two decades and regularly
evaluate new technologies focused on performance improvement. I
believe," continued Huskamp, "that IBC's materials have great
potential for the motorsports community, and the automotive market
generally, and I am looking forward to working with IBC to develop
this opportunity."
IBC's ultra-light family of advanced alloys and metal composites
could have huge benefits for auto racing and performance automotive
applications, particularly those where rotational mass and unsprung
weightare critical. The Company's range of alloys and composites
has a consistently high stiffness to weight ratio, as well as other
important materials characteristics,which will allow automotive
engineers greater design flexibility and more options to achieve
significant performance gains.
"We are very pleased to have Chris help guide and develop our
automotive strategy," said Anthony Dutton, President and CEO of IBC
Advanced Alloys. "His experience, passion for auto racing and
network of high profile relationships will prove to be an enormous
asset for IBC. While IBC's automotive strategy will initially focus
on high performance racing," continued Dutton, "we believe that the
Company's work also holds great promise for the commercial
automotive sector which is already adopting ultra-light weight and
alternative materials solutions for its current and next generation
designs."
Pursuant to this engagement, IBC has granted 250,000 incentive
stock options at an exercise price of $0.19 each until October 5,
2016 pursuant to the terms of the Company's 2009 stock option plan
and which are subject to TSX Venture Exchange policies and
approval.
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. Additionally,
IBC owns prospective beryllium properties in the Western US
covering approximately 9,500 hectares. 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, 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.
Contacts: IBC Advanced Alloys Corp. Ian Tootill Director of
Corporate Communications +1 (604) 685-6263 ext. 110 +1 (604) 687
8678 (FAX)itootill@ibcadvancedalloys.comwww.ibcadvancedalloys.com
Rubenstein Investor Relations Tim Clemensen +1 (212)
843-9337tclemensen@rubensteinir.com
IBC Advanced Alloys (QB) (USOTC:IAALF)
Historical Stock Chart
From Jun 2024 to Jul 2024
IBC Advanced Alloys (QB) (USOTC:IAALF)
Historical Stock Chart
From Jul 2023 to Jul 2024