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IBC Advanced Alloys Shifts Focus to Profitable Copper Alloys Division

IBC Advanced Alloys Shifts Focus to Profitable Copper Alloys Division

IBC Advanced Alloys 將重點轉移到盈利的銅合金部門
Accesswire ·  04/26 19:00

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

由於長期市場需求不足,公司將於今年夏天關閉鈹鋁合金工廠

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.

印第安納州富蘭克林/ACCESSWIRE/2024年4月26日/IBC先進合金公司(“IBC” 或 “公司”)(多倫多證券交易所股票代碼:IAALF)(OTCQB: IAALF)宣佈,由於對鑄鈹鋁合金產品的長期需求不足,它將專注於其位於印第安納州富蘭克林的盈利銅合金部門,並於今年夏天停止其馬薩諸塞州鈹鋁合金工廠的生產。IBC預計,此舉將擴大自由現金流,提高毛利率,並使公司走上實現持續盈利的更好道路。自截至2020年9月30日的季度以來,IBC的銅合金部門已實現盈利,共計14個季度。

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.

銅合金部門在印第安納州運營着一個垂直整合的銅合金生產設施,該工廠通過鑄造、鍛造、粗加工和最終加工獲取原材料。自從應對了COVID大流行的市場混亂,於2022年將三家銅合金工廠整合爲一座工廠,並於2022年完成了位於印第安納州富蘭克林的現代化和擴建生產設施的建設以來,該部門的收入顯著增長,產生了更強勁的自由現金流[1],提高了毛利率,並實現了盈利。

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

儘管銅合金部門已實現盈利,但無法保證IBC Advanced Alloys將在合併基礎上實現盈利。

The Company's decision to close its Engineered Materials division ("EMC") was driven primarily by insufficient long-term demand for cast beryllium-aluminum alloy products and the resulting continuing losses. EMC's net losses, which included a loss of $7.4 million in the 12 months ended June 30, 2023, and a loss of $5.2 million in the trailing 12 months ended December 31, 2023, depleted available working capital for the Copper Alloys division at a time when demand for copper alloy products was growing.

該公司之所以決定關閉其工程材料部門(“EMC”),主要是由於對鑄鈹鋁合金產品的長期需求不足以及由此產生的持續虧損。在銅合金產品需求增長之際,EMC的淨虧損包括截至2023年6月30日的12個月中的740萬美元虧損以及截至2023年12月31日的過去12個月中的520萬美元虧損,耗盡了銅合金部門的可用營運資金。

"The IBC team worked very hard over a dozen years to expand markets for its innovative beryllium-aluminum cast alloy products," said Mark A. Smith, Chairman and CEO of IBC, "but sufficient steady, long-term market demand simply did not materialize at a level that allowed for consistently profitable operations. By focusing on growing our Copper Alloys business at our integrated and highly efficient foundry in Indiana, we see significant opportunity to expand the business to a whole new level and seek consistent profitability."

IBC董事長兼首席執行官馬克·史密斯說:“十幾年來,IBC團隊努力擴大其創新的鈹鋁鑄合金產品的市場,但足夠穩定的長期市場需求根本無法實現持續盈利。通過專注於在印第安納州綜合高效鑄造廠發展銅合金業務,我們看到了將業務擴展到全新水平並尋求持續盈利的重大機遇。”

Prior to halting operations in Massachusetts, IBC intends to complete its existing production contracts for beryllium-aluminum alloy products, including components it manufactures for the F-35 aircraft and other defense systems. Alternative production of these alloy parts for the F-35 and other defense systems is expected to be available after IBC closes its Massachusetts facility, which employs 24 workers. The Company expects to incur a charge to operations in respect of the plant closure and is negotiating with suppliers and its landlord to minimize such costs.
IBC Investor Webcast Scheduled for Monday, April 29, 2023

在停止在馬薩諸塞州的運營之前,IBC打算完成其現有的鈹鋁合金產品生產合同,包括爲F-35飛機和其他防禦系統製造的部件。預計在IBC關閉其僱用24名工人的馬薩諸塞州工廠後,將爲F-35和其他防禦系統生產這些合金零件。該公司預計將因關閉工廠而產生運營費用,並正在與供應商及其房東進行談判,以最大限度地降低此類成本。
IBC投資者網絡直播定於2023年4月29日星期一舉行

IBC will host an investor update webcast on Monday, April 29, 2024, starting at 12 Noon Eastern . The webcast can be accessed here at the starting time: The meeting ID for the webcast is 823 6460 8744 and the passcode to use is 039018. Investors can find local numbers to use to listen in to the webcast via a phone line here:

IBC將於美國東部時間2024年4月29日星期一中午12點開始舉辦投資者最新情況網絡直播。開始時可以在這裏訪問網絡直播:網絡直播的會議ID爲823 6460 8744,使用的密碼爲039018。投資者可以在此處通過電話線找到本地號碼來收聽網絡直播:

On Behalf of the Board of Directors:

代表董事會:

"Mark A. Smith"

“Mark A. Smith”

Mark A. Smith, CEO & Chairman of the Board

馬克·史密斯,首席執行官兼董事會主席

[1] IBC reports non-IFRS measures such as "Adjusted EBITDA," "Operating Income," and "Free Cash Flow." Please see information on this and other non-IFRS measures in the "Non-IFRS Measures" section of this news release and in IBC's MD&A, available on Sedar.com. "Free cash flow" is generally defined as net income adjusted for non-cash expenses, changes in working capital, and capital expenditures.

[1] IBC報告了非國際財務報告準則指標,例如 “調整後的息稅折舊攤銷前利潤”,“營業收入” 和 “自由現金流”。請參閱本新聞稿的 “非國際財務報告準則指標” 部分以及IBC的MD&A(可在Sedar.com上查閱)中有關該指標和其他非國際財務報告準則指標的信息。“自由現金流” 通常定義爲經非現金支出、營運資本變動和資本支出調整後的淨收入。

# # #

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CONTACTS:

聯繫人:

Mark A. Smith, Chairman of the Board
Jim Sims, Director of Investor and Public Relations
+1 (303) 503-6203
Email: jim.sims@ibcadvancedalloys.com

馬克·史密斯,董事會主席
Jim Sims,投資者和公共關係總監
+1 (303) 503-6203
電子郵件: jim.sims@ibcadvancedalloys.com

@IBCAdvanced $IB.TO $IAALF #copper #beryllium #F35

@IBCAdvanced $IB.TO $IAALF #copper #beryllium #F35

ABOUT IBC ADVANCED ALLOYS CORP.

關於 IBC 先進合金公司

IBC is a leading advanced copper alloys manufacturer serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. At its vertically integrated production facility in Franklin, Indiana, IBC manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQB under the symbol "IAALF".

IBC是一家領先的先進銅合金製造商,服務於國防、航空航天、汽車、電信、精密製造等各種行業。在其位於印第安納州富蘭克林的垂直整合生產設施中,IBC生產和分銷各種銅合金作爲鑄件和鍛件,包括鈹銅、鉻銅和鋁青銅。該公司的普通股在多倫多證券交易所風險投資交易所上市,股票代碼爲 “IAALF”,在OTCQB上市,股票代碼爲 “IAALF”。

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING STATEMENTS

關於前瞻性陳述的警示性聲明

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

多倫多證券交易所風險交易所尚未審查本新聞稿的充分性,也不承擔任何責任。多倫多證券交易所風險交易所及其監管服務提供商(該術語在多倫多證券交易所風險交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。

Certain information contained in this news release may be forward-looking information or forward-looking statements as defined under applicable securities laws. Forward-looking information and forward-looking statements are often, but not always identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may" and "should" and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, the Company's expectation to cease production this summer at its Massachusetts beryllium-aluminum alloy plant, the Company's expectation that focusing on the Copper Alloy division willexpand free cash flow, strengthen gross margins, and position the Company on a better path to sustained profitability, the Company's expectation that it will incur a charge to operations in respect of the plant closure, and the Company's intention to complete its existing production contracts. Forward-looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company or its customers operate, including the semiconductor manufacturing and oil and gas industries, risks associated with manufacturing activities, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. As a result of these risks and uncertainties, the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.

根據適用證券法的定義,本新聞稿中包含的某些信息可能是前瞻性信息或前瞻性陳述。前瞻性信息和前瞻性陳述通常使用 “期望”、“預測”、“相信”、“預見”、“可以”、“估計”、“目標”、“打算”、“計劃”、“尋求”、“將”、“可能” 和 “應該” 等詞語以及暗示未來結果的類似表述或詞語來識別,但並非總是如此。本新聞稿包括前瞻性信息和陳述,除其他外,涉及該公司預計將在今年夏天停止其馬薩諸塞州鈹鋁合金工廠的生產、公司對專注於銅合金部門將擴大自由現金流、提高毛利率並使公司走上更好的持續盈利之路的預期、公司對關閉工廠將產生運營費用的預期以及公司的意圖以完成其現有的生產合同。前瞻性陳述涉及大量已知和未知的風險和不確定性,其中某些風險和不確定性是公司無法控制的,包括:公司或其客戶經營領域的總體經濟狀況的影響,包括半導體制造和石油和天然氣行業、與製造活動相關的風險、法律法規的變化,包括新的環境法律法規的通過以及解釋和執行方式的改變、競爭加劇、可用性不足合格人員或管理人員不足、原材料供應有限、商品價格、外匯或利率波動、股市波動以及獲得監管機構所需批准。由於這些風險和不確定性,公司未來的業績、業績或成就可能與這些前瞻性陳述中表達的業績、業績或成就存在重大差異。本新聞稿中包含的所有涉及公司預期、認爲或預期未來將發生或可能發生的活動、事件或發展的聲明均爲前瞻性陳述。這些陳述基於公司根據其經驗、對歷史趨勢的看法、當前狀況、預期的未來發展以及其認爲適合具體情況的其他因素做出的假設。

Please see "Risks Factors" in our Annual Information Form available under the Company's profile at , for information on the risks and uncertainties associated with our business. Readers should not place undue reliance on forward-looking information and statements, which speak only as of the date made. The forward-looking information and statements contained in this release represent our expectations as of the date of this release. We disclaim any intention or obligation or undertaking to update or revise any forward-looking information or statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

有關與我們業務相關的風險和不確定性的信息,請參閱公司簡介下方提供的年度信息表中的 “風險因素”。讀者不應過分依賴前瞻性信息和陳述,這些信息和陳述僅代表截至發佈之日。本新聞稿中包含的前瞻性信息和陳述代表了我們截至本新聞稿發佈之日的預期。除非適用的證券法要求,否則我們不打算或承擔任何更新或修改任何前瞻性信息或陳述的意圖、義務或承諾,無論是由於新信息、未來事件還是其他原因。

SOURCE: IBC Advanced Alloys Corp.

資料來源:IBC 高級合金公司


譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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