IBC Advanced Alloys and Ulba Sign Memorandum of Understanding

IBC Advanced Alloys Corp.(CVE:IB) reports and Ulba Metallurgical Plant JSC have signed a memorandum to continue to target emerging opportunities in the global beryllium and rare metals market.

IBC Advanced Alloys Corp.(TSXV:IB) reports and Ulba Metallurgical Plant JSC have signed a memorandum to continue to target emerging opportunities in the global beryllium and rare metals market.

The press release is quoted as saying:

Under the terms of the MOU, Ulba and IBC intend to renew and extend their multi-year binding supply agreements for both beryllium metal and beryllium master alloys. These agreements will provide IBC with a consistent and reliable supply to meet increasing customer demand and to grow IBC’s alloys business. Ulba and IBC also agreed to examine technological and business development initiatives that will enhance and strengthen their respective beryllium and beryllium alloys business.

IBC Alloys’ President and CEO, Anthony Dutton says:

“We are very pleased to have signed this very important MOU.” “and look forward to expanding our excellent relationship with Ulba. The 2010 acquisition of Beralcast, now called Engineered Materials Division, has positioned IBC as a global leader in the beryllium aluminum castings market and, together with our beryllium copper alloys business, has dramatically increased IBC’s product range and market depth. Our strong relationship with Ulba.” “is a cornerstone of our growth and we are excited by the long term potential of our relationship and our mutual rare metals business.”

Click here to access the entire news release.