IBC's Massachusetts Division Completes Final Contract Work

IBC Advanced Alloys Corp. has announced the successful completion of all production contracts at its Massachusetts-based beryllium-aluminum alloy facility, which has now discontinued operations. This strategic shift is aimed at expanding its Copper Alloys division in Franklin, Indiana.

The company expects this move to enhance free cash flow. The Copper Alloys division has shown a favorable trend in revenues and gross profit since October 2022. This is largely due to consolidating operations into a single plant.

Operating a vertically integrated copper alloy facility, the division has overcome the market disruptions of the COVID pandemic and completed construction of a modernized production facility in 2022. As a result, revenue, gross profit, and gross margin have improved.

Chairman and CEO Mark A. Smith highlighted the strong demand for copper and copper alloys, pointing to increased worldwide copper production and prices. The company is negotiating with suppliers and its landlord to minimize costs associated with the Massachusetts plant's closure.