Kazatomprom and IBC Advanced Alloys Sign Memorandum of Understanding Regarding Strategic Cooperation
Tue May 5, 10:10 AM
ca.news.finance.yahoo.com
VANCOUVER, B.C. & ALMATY, Kazakhstan--(BUSINESS WIRE)--IBC Advanced Alloys Corp. (TSX-V: IB.V) ("IBC") and Kazatomprom, the national atomic company of Kazakhstan, are pleased to announce they have signed a memorandum of understanding (“MOU”) outlining a framework to develop a strategic relationship to capitalize on current and emerging opportunities in the global beryllium market. The MOU was signed after several days of meetings in Almaty, Kazakhstan between IBC, Kazatomprom and Ulba Metallurgical Plant (“Ulba”), the world’s largest beryllium and master alloy processing facility and a wholly owned subsidiary of Kazatomprom.
Under the terms of the MOU, Kazatomprom, Ulba and IBC have committed to developing a plan of strategic cooperation with regards to the global beryllium market and to explore mutually beneficial initiatives to foster market growth and technological development. In addition, Kazatomprom has provided IBC with beryllium and master alloy long-term supply assurances which will better allow IBC to develop and implement long term strategic growth initiatives. This MOU is an important step in developing a long-term strategic relationship between Kazatomprom, Ulba and IBC and is intended to improve manufacturing and marketing efficiencies while broadening the opportunities for beryllium metal, beryllium-based alloys and other related products.
“We are signing this MOU with IBC,” stated Mr. Moukhtar Dzhakishev, president of Kazatomprom, “given that IBC and its wholly owned subsidiary, Freedom Alloys, have a long customer history with both Kazatomprom and Ulba. We expect this MOU will allow us to take advantage of future opportunities in a mutually beneficial and cooperative way.”
“Kazatomprom signed this MOU for mutual cooperation,” said Yuri Shakhvorostov, deputy director general - beryllium facility for Ulba, “in order to provide integrated efforts in the global beryllium market in the present complicated global economical environment. Our mutual cooperation and operational effectiveness are time proved,” continued Deputy Director Shakhvorostov, “as Ulba and IBC Freedom Alloys Division have a long-established relationship in the beryllium sector and we are ready to continue and build on this cooperation.”
“We are tremendously excited to be strengthening our relationship with Kazatomprom and Ulba and to be working together to develop opportunities in the global beryllium and beryllium master alloys market,” stated Anthony Dutton, president and CEO of IBC. “This MOU is a testament to our shared belief in the future of beryllium and beryllium alloys and underlines the importance of mutual cooperation to realize full market potential. Kazatomprom and Ulba are highly respected world-class companies,” continued Mr. Dutton, “and IBC is looking forward to aligning its strategic interests and expanding its global reach in partnership with acknowledged market leaders.”
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 65 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania and Indiana. Additionally, IBC owns prospective beryllium properties in Brazil and 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”. For further information please visit www.ibcadvancedalloys.com
About Kazatomprom
Kazatomprom is the national operator of the Republic of Kazakhstan for the export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special purpose equipment, technologies and double-use materials. The main activities of the company are: geological exploration, uranium production, the manufacture of nuclear fuel cycle products, reactor construction, nuclear power plants, non-ferrous metallurgy and production of construction materials, the electric energy sector, scientific support of production and social welfare and training of personnel. Today Kazatomprom has more than 25,000 employees and is amongst the leading uranium production companies in the world. For further information please visit www.kazatomprom.kz
About Ulba Metallurgical Plant
"Ulba Metallurgical Plant" Joint-Stock Company ("UMP" JSC) is located in Ust-Kamenogorsk, Eastern Kazakhstan, and has been a part of Kazatomprom since 1997. The Ulba Plant was founded on October 29, 1949. By early 70s "UMP" JSC joined a number of the world’s largest producers of uranium, beryllium and tantalum. "UMP" JSC - is a unique company with 60 years experience in the production and delivery of uranium, beryllium and tantalum products for the needs of nuclear industry, atomic engineering, electronics, metallurgical and other spheres. The Ulba plant’s beryllium production facility is one of three enterprises in the world with full production cycle from ore concentrate processing to finished products output with the rated quality set-ups. Current company staff accounts for over 6,000 employees. For further information please visit www.ulba.kz
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 IBC’s 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) IBC's 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 IBC's products not developing as expected; (vii) IBC's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; and (ix) the inability to effectively market IBC's products, including the establishment of viable relationships with third parties; (x) fluctuating beryllium prices may negatively impact IBC’s 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.
IBC Advanced Alloys Corp
Ian Tootill, 604-685-6263 ext 110
Director of Corporate Communications
itootill@ibcadvancedalloys.com
www.ibcadvancedalloys.com |
