IBC Advanced Alloys Up 13 Percent on $1.3 Million Order

IBC Advanced Alloys (TSXV:IB) reported receiving a $1.3 million order from a new multinational manufacturing customer based in Asia through its copper alloys division. The company expects do deliver finished products starting in Q1 2016, and is confident of additional business. IBC’s stock was up 13 percent on the news, with trading volumes over 3 times the daily average for the company.

As quoted in the press release:

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 president, Mark Wolma, said:

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. Copper Alloys’ focus on value-added, higher-margin growth opportunities where we have a sustainable competitive advantage.

Click here to read the IBC Advanced Alloys (TSXV:IB) press release