IBC Ad­vanced to ap­peal Ber­al­cast ar­bi­tra­tion award

Stockwatch Daily - - MINES & METALS - Mr. Dun­can Heinz re­ports

IBC AD­VANCED Al­loys Corp. in­tends to ap­peal an ar­bi­tra­tion award made in favour of the for­mer co-owner of Ber­al­cast, which IBC pur­chased in 2010 and which now serves as the com­pany’s beryl­lium-alu­minum al­loy op­er­at­ing di­vi­sion.

An ar­bi­tra­tor with the In­ter­na­tional Cen­ter for Dis­pute Res­o­lu­tion has or­dered IBC to pay Ger­ald R. Hoola­han, the for­mer co-owner of Ber­al­cast, a to­tal of ap­prox­i­mately $1.24-mil­lion (U.S.) in dam­ages re­sult­ing from an al­leged breach of con­tract re­lat­ing to the sale, and an ad­di­tional $155,697 (U.S.) in at­tor­ney’s fees, costs and ex­penses.

IBC vig­or­ously dis­putes the al­le­ga­tions and in­tends to ap­peal the ar­bi­tra­tors’ award.

About IBC Ad­vanced Al­loys Corp.

IBC is a lead­ing beryl­lium and cop­per ad­vanced al­loy com­pany serv­ing a va­ri­ety of in­dus­tries, such as de­fence, aerospace, au­to­mo­tive, telecom­mu­ni­ca­tions, pre­ci­sion man­u­fac­tur­ing and oth­ers. IBC’s cop­per di­vi­sion man­u­fac­tures and dis­trib­utes a va­ri­ety of cop­per al­loys as cast­ings and forg­ings, in­clud­ing beryl­lium cop­per, chrome cop­per and alu­minum bronze. IBC’s en­gi­neered ma­te­ri­als di­vi­sion makes the Ber­al­cast fam­ily of al­loys, which can be pre­ci­sion cast and are used in an in­creas­ing num­ber of de­fence, aerospace and other sys­tems, in­clud­ing the F-35 joint strike fighter. IBC has pro­duc­tion fa­cil­i­ties in In­di­ana, Mas­sachusetts, Penn­syl­va­nia and Mis­souri.

We seek Safe Har­bor.

Dal Stu­art Brynelsen, Christo­pher Ge­of­frey Hampson, David Ran­dall Heinz, Mike Jarvis, Alas­tair Scott Neill, Mark A Smith

(IB) Shares: 34,175,115

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