Specialty copper alloy producer IBC Advanced Alloys Corp. has
seen "steadily improving" performance in both its copper and
engineered material divisions in recent months, but challenges
remain as some would-be buyers maintain caution, the company
said in a year-end report.
The Vancouver, British
Columbia-based company said it saw better manufacturing
performance for its fiscal fourth quarter ended June 30 than
during the third quarter, with both units generating higher
revenues in the period compared to the prior quarter.
Company has experienced incremental improvements in forward
visibility reflecting a cautious, but still subdued, customer
base," the company wrote in the corporate update.
companys outlook remains somewhat tempered.
developments are encouraging, the economic environment is still
muted and even with improved quarterly performance, management
advises that customers remain conservative," it said July
Earlier this year,
chief financial officer Simon Anderson told AMM the
copper segment, based in Franklin, Ind., is stable and
regularly generates positive revenues (
amm.com, Jan. 29).
IBC executives were
unavailable July 2 for further comment.
company said it repaid debts to a major creditor in the final
month of its fiscal year, allowing the business to consolidate
operational borrowing with a single lender.
"Management now has
greater flexibility with day-to-day operations as it has fewer
limitations on financial and other transactions between the
companys manufacturing entities," the company said.
IBC primarily manufactures beryllium-based copper alloys
that are used in the aerospace, automotive and
telecommunications sectors. In January, the company offered
16.7 million units of company stock at 12 cents a share to
raise $2 million to expand beryllium production in