IBC Advanced Alloys Corp. (TSX-V: IB) has signed a definitive agreement to acquire Beralcast Corporation. Beralcast is a private specialty alloy manufacturing business that owns patented technology for a castable beryllium aluminum alloy which is used in various aerospace and advanced technology applications.
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IBC will acquire manufacturing know-how and equipment, trade rights, marketing and supply agreements as well as retain certain key personnel.
Under the agreement, IBC, through its wholly owned subsidiary IBC US Holdings, Inc., will acquire all of the shares of Beralcast from two individuals. The consideration for Beralcast is $2.25 million in cash and a number of common shares of IBC equal to C$2,254,000 divided by the unit price of the financing undertaken to fund the purchase.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications.
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