IBC customer releases proprietary info to competitor

2015-08-19 14:08 ET - News Release

Mr. Anthony Dutton reports
IBC ADVANCED ALLOYS REPORTS A MATERIAL UNAUTHORIZED THIRD PARTY RELEASE OF PROPRIETARY COMPETITIVE AND BERALCAST(R) PROCESS INFORMATION

There have been unauthorized third party releases of proprietary IBC Advanced Alloys Corp. information whereby material competitive business intelligence, as well as proprietary information regarding Beralcast, the company's beryllium aluminum casting process, was sent electronically by a large customer of the company to a competitor of the company.

The unauthorized releases occurred between July 10 and July 15, 2015, and were identified during routine, continuing reviews of all e-mail transmissions relating to the company's work with the customer. IBC's president and chief executive officer, Anthony Dutton, met with senior management of the customer to report the unauthorized releases and to register the company's concern.
IBC is currently working to minimize any disruptions to production and to assess whether or not there are any immediate or longer-term damages. The company has been assured by both parties that all communications, including attachments, were not forwarded to any additional recipients, and have been destroyed in compliance with corporate protocols and all legal requirements.