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IBC Advanced Alloys Corp. reports news on its advanced copper alloy manufacturing business, including production of beryllium copper, chrome copper, and aluminum bronze castings and forgings. The company serves industrial end markets that include defense, aerospace, automotive, telecommunications, and precision manufacturing from a vertically integrated production facility in Franklin, Indiana.
Recurring company updates include financial results for the Copper Alloy division, credit facility amendments, convertible security financing, incentive stock option awards, investor presentations, and disclosures tied to discontinued operations at the former Massachusetts Engineered Materials facility.
IBC Advanced Alloys Corp. announces entering into sale leaseback agreements with Flatbay Properties , securing US$3,850,000 in funding. The purchase contract results in working capital after repaying a term loan. Flatbay purchases a property in Franklin, Indiana, leasing it back to the subsidiary for five years with an option to repurchase. The lease payments vary based on the debt service coverage ratio, and the agreement includes customary terms for the manufacturing sector.
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