Massachusetts-based manufacturer and distributor of beryllium-
based alloys and related products
IBC Advanced Alloys (TSX:V.IB
, Stock Forum
) roared back to life after several months floating along in the $0.05-$0.07 range, nearly doubling on news that subsidiary IBC Engineered Materials is in the final stages of a materials and qualification process with defense giant Lockheed Martin on Berelcast alloys for F-35 Lightning II jet applications.
On heavy trading volume, IBC jumped to $0.105 by noon Tuesday on the back of the announcement
that “IB-EMC is working directly with Lockheed Martin's F-35 EOTS engineering, design and quality teams to develop specific components to demonstrate the technical and commercial viability of the Company's proprietary Beralcast alloys as effective alternatives to improve lead time and affordability of high performance aerospace components made from beryllium aluminum alloys.”
By close, the stock was up 145%, to $0.135.
A company news release revealed, “As a part of the project, IB-EMC has completed several advanced prototype castings which are being used to evaluate Beralcast alloys and castings for several critical structural and sub- system aerospace components.”
According to the company, “Beralcast alloys can be used in virtually any high performance application requiring complex, lightweight and high-stiffness parts and can be substituted for aluminum, magnesium, titanium, metal matrix composites as well as pure beryllium or powder metallurgy beryllium-aluminum.”
Beralcast's alloys are three times stiffer than aluminum but weigh 22% less, according to IBC, “can be precision-cast for simple and complex three-dimensional stability,” which make them “ideal for high performance industrial and high tech components as well as for a wide range of aerospace applications.”
Ray White, President of IB-EMC, hopes IBC's collaboration with the defense giant “will advance the potential for our engineered materials products for other aerospace industry initiatives where modulus, weight and cost are important design criteria."
In an exclusive interview with Stockhouse
, IBC Advanced Alloys President, CEO, and Director, Anthony Dutton said this morning, “Lockheed Martin is widely acknowledged as a leader in materials technology while also being committed to manufacturing excellence. Our Beralcast technology has been acknowledged by them as leading ultra-light high modulus material that can be used cost effectively in a wide number of applications across multiple air frame platforms. Our objective is to demonstrate the potential of Beralcast across a variety of applications and to win multi-year long term supply agreements with Lockheed Martin and other aerospace contractors.”
He also revealed IBC is the only company in the world that can commercially produce the product.
“It is a high barrier to entry market and has been dominated by one big company for decades. Because of this, the market has been somewhat dysfunctional and has created the opportunity for a company with our skill sets. Currently there is no competitor who can provide high performance cost effective beryllium aluminum castings like those produced by our team at IBC Engineered Materials.”
FULL DISCLOSURE: IBC Advanced Alloys is a Stockhouse Publishing client, but has not paid for this article.