IBC Advanced Alloys pays off mortgage on its copper alloys manufacturing facility

IBC Advanced Alloys, one of the leading beryllium and copper advanced alloys companies, has announced that it has completed payments on its US$1.7 million (£1.26 million) mortgage term-loan on its copper alloys manufacturing facility in Franklin, Ind. Paying off this mortgage is part of IBC’s primary corporate strategy of reducing its debt burden.

“I am very pleased to announce that we have been able to pay-off our sole mortgage as part of our ongoing effort to reduce corporate debt,” said Mark A. Smith, CEO and Director of IBC. “It is especially exciting that continuing strong sales across both of our operating divisions are strengthening IBC’s ability to generate cash-flow and strengthen our balance sheet organically.”