IBC Advanced Alloys Corp., an advanced alloys and precision castings company, reports that its Copper Alloys division has received a $1.3 million order from a new multinational manufacturing customer based in Asia. Delivery of the finished products is expected to begin in the first quarter of fiscal 2016 and IBC is confident of additional business.
IBC is expanding its business development initiatives to meet the growing global demand for specialty high performance copper alloy products. Asian markets are increasingly important and IBC will continue to leverage its expertise in these dynamic economies. IBC's new customer has contracted for specialized engineered copper alloy products to improve their production line efficiency, operating margins and yields. The customer identity has not been disclosed for competitive reasons.
IBC Copper Alloys' President Mark Wolma summarized, "IBC's business development initiatives focus on improving margins and expanding our product line with semi-finished products. We have identified a wide range of value-add opportunities for specific industries and are in active discussions with several groups. While Copper Alloys has accounts generating similar annual revenues, this $1.3 million single order is an important validation of our expanded business strategy. This order also supports", continued Wolma, "Copper Alloys' focus on value-added, higher-margin growth opportunities where we have a sustainable competitive advantage."
Anthony Dutton, CEO of IBC Advanced Alloys Corp. said, "IBC is building a strong reputation as a materials solutions provider and continues to build momentum with both our Copper Alloys division and our Beralcast alloys produced at our Engineered Materials facility in Wilmington, MA. We are focused on supporting our customers and their commitment to manufacturing excellence."
IBC Copper Alloys manufactures and distributes a wide variety of high-performance copper alloys such as castings and forgings serving domestic and international customers in the plastic injection mold, automotive, oil and gas and advanced manufacturing industries. It operates plants in Royersford, Pennsylvania, New Madrid, Missouri and Franklin, Indiana, which is the hub for IBC's Copper Alloys operations.