International Barrier Announces Tripled Production Capacity to Meet Growing Demand
August 03, 2000 - Watkins, MN, Vancouver, B.C. - International Barrier Technology (IBH:CDNX), a manufacturer of fire rated building products, is pleased to announce the completion of its newly automated production line in Watkins, Minnesota. The new line has been in operation since June, following a brief shut down period. This automated equipment allows for tripled production capacity, improved appearance for interior applications, reduced material waste and labor costs, and overall increased efficiency resulting in attainable revenue targets for the Company.
The automated plant design will triple capacity based on increased line speeds and improved operating efficiencies. The increased production capacity will fulfill “new construction” orders from contractors in Florida and The Lowe’s Contractors Yard’s (2nd largest building products distributor in the US). As a result of the line automation, the appearance of the finished foam core panels has improved and is compatible with the Japanese outside wall markets and US based interior commercial/industrial applications for walls and ceilings. Foam core panel sales are increasing rapidly and sales are expected to continue to increase each quarter as the finish is perfected. Material waste is reduced by half, since the start up of the automated sprayers. Labor costs, based on volume, are expected to be 40-45% lower than last year.
“This new manufacturing facility will take International Barrier to the next level of efficiency, production and revenue growth”, says Mike Huddy, President. “Completion of this plant is the realization of a long term corporate milestone and with the current demand for fire rated building products, the timing couldn’t be better. We are now positioned to meet our sales targets. We have aggressive marketing strategies in place to guarantee continued growth. We anticipate increased cash flow and are confident that revenue projections will meet expectations.”
International Barrier Technology, Inc. is a manufacturing/marketing company in the fire retardant industry for wood products. The Company has positioned itself as a competitive alternative in the fire retardant industry with its two patented products, Blazeguard® and Pyrotite. Pyrotite is an inorganic, cementicious compound that acts as a noncombustible shield between fire and wood. The compound binds water in a molecular bond, which is released during the heat of a fire. The water acts as a cooling vapor, absorbing and cooling the heat of the fire. Blazeguard is a composite fire rated panel, composed of a coating of Pyrotite, adhered to a layer of plywood or oriented strandboard structural sheathing.
“David J. Corcoran”
For more information, please contact Belinda Burke or Dawn Van Zant toll free at 888-368-8704
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[This message has been edited by Allstocks (edited August 17, 2000).]