IBC Advanced Alloys Delivers Firsts of New Cost-Effective Beryllium Alloy Part for the F-35 Aircraft
FRANKLIN, Ind. (March 23, 2021) – IBC Advanced Alloys Corp. (TSX-V: IB; OTCQB: IAALF) (“IBC” or the “Company”) a leading beryllium and copper advanced alloys company, is pleased to announce that it has begun delivering to Lockheed Martin (NYSE: LMT) a new beryllium alloy part – the Gimbal Mounting Ring – for the F-35 Lightning II aircraft’s Electro-Optical Targeting System (EOTS). IBC makes the ring using its proprietary investment casting technology, which allows for more efficient and less costly manufacturing of the part than was previously possible.
IBC was awarded a contract for the EOTS’ Gimbal Mounting Ring as part of a multi-year contract awarded in December 2020. In addition to the Gimbal Mounting Ring, IBC also was awarded another multi-year contract to produce the Azimuth Gimbal Housing Unit for the EOTS systems, which IBC has manufactured for Lockheed Martin since 2015. The total value of the December purchase order for both parts was approximately US$9.7 million, which represented a 24 percent increase over IBC’s previous three-year purchase order from Lockheed Martin.
IBC’s beryllium alloys facility in Wilmington, Mass., where the Gimbal Mounting Ring is manufactured, confirmed that shipment of both the Ring and a second part for the F-35’s EOTS system manufactured IBC – the Gimbal Housing Unit – are now being produced in Wilmington and shipped to Lockheed on schedule.
EOTS is the first sensor to combine forward-looking infrared and infrared search and track functionality to provide F-35 pilots with precise air-to-air and air-to-ground targeting capability.
For more information on IBC and its innovative alloy products, see this video.
On Behalf of the Board of Directors:
"Mark A. Smith”
Mark A. Smith, CEO & Chairman of the Board
