Company to Close its Beryllium-Aluminum Alloy Plant This Summer Due to Insufficient Long-Term Market Demand

FRANKLIN, IN / ACCESSWIRE / April 26, 2024 / IBC Advanced Alloys Corp. ("IBC" or the "Company") (TSXV:IB)(OTCQB:IAALF) announces that it will focus on its profitable Copper Alloys division in Franklin, Ind., and cease production this summer at its Massachusetts beryllium-aluminum alloy plant because of insufficient long-term demand for cast beryllium-aluminum alloy products. IBC anticipates that the move will expand free cash flow, strengthen gross margins, and position the Company on a better path to sustained profitability. IBC's Copper Alloys division has operated profitably since the quarter ended September 30, 2020, for a total of 14 quarters.

The Copper Alloys division operates a vertically integrated copper alloy production facility in Indiana, which takes raw material through foundry, forge, and rough and final machining. Since navigating the market disruptions of the COVID pandemic, consolidating three copper alloy plants into one facility in 2022, and completing construction of its modernized and expanded production facility in Franklin, Ind. in 2022, the division has significantly grown revenue, generated more robust Free Cash Flow[1], improved its gross profit margins, and operated profitably.

While the Copper Alloys division has operated profitably, there is no guarantee that IBC Advanced Alloys will achieve profitability on a consolidated basis.

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