News Releases
Tuesday, June 8, 2004
International Barrier Initiates First Phase of Launch of Blazeguard® Fire Rated Wood Panels in the Western US
International Code Council Evaluation Service Report Will Potentially Double the Existing Market for Blazeguard
Watkins, MN, Vancouver, BC, May 4, 2004 - International Barrier Technology, Inc. ("Barrier") (IBTGF: OTCBB; IBH: TSXV), a manufacturer of proprietary fire resistant building materials, has submitted an application to have it¹s existing code evaluation services reports (representing both the north and southeastern US) converted to a code evaluation report based on the "new" International Building Code (IBC). The IBC was developed as part of an effort to consolidate all US building codes into a single format. Publication of Barrier's pending International Code Council Evaluation Service (ICC-ES) report will enable builders throughout the entire United States to use Blazeguard to meet rigorous standards adopted by IBC for fire safety. Applications include roof decks in non-sprinklered multi-family housing, interior fire-rated wall surfaces, structural insulated panels (SIPs), and fire rated wall assemblies. New territory accessible to Barrier is the area formally governed by the standards of the Uniform Building Code (UBC); essentially, west of the Mississippi. The territory expansion will potentially double the existing market size for Blazeguard.
Publication of the International Building Code, and the consolidation of all three code evaluation services agencies (BOCA, SBCCI, and ICBO) into a single service agency (the International Code Council, or ICC), has heightened awareness of fire code standards and created a new and significant market opportunity for Barrier's Blazeguard® fire-rated sheathing. The ICC-ES is accommodating product manufacturers with an existing code evaluation report from one of the former regional code evaluation service agencies by allowing them to simply submit their report for an expedited review and conversion to the IBC. This process saves Barrier from having to undertake the more costly and time consuming process of conducting fire tests and submitting a new evaluation report application.
"With the credibility and sales we have established for Blazeguard in Florida and increasingly the mid-Atlantic, we are preparing to enter the large and untapped western region," said Dr. Mike Huddy, president. "We estimate the total US market potential for roof sheathing alone for a structural, Class A rated material like Blazeguard will soon exceed 200 million square feet. With a significant percentage of this market potential in the western US, the publication of the ICC-ES takes on a high level of importance for our planned growth and expansion. The anticipated ICC-ES report, which I expect to be published by the end of 2004, will assure all of our distribution partners and their customers that Blazeguard meets or exceeds all building code requirements for our intended applications. We have already commenced planning for distribution and marketing in this important new geographic area."
About International Barrier Technology Inc.
International Barrier Technology, Inc. develops, manufactures, and markets proprietary fire resistant building materials. Its patented, non-combustible, non-toxic Pyrotite formulation has an extraordinary capability: it releases water when exposed to the heat of fire. Barrier's award-winning Blazeguard wood panels exceed International Building Code requirements in every targeted fire test and application, and uniquely combine properties that increase panel strength and minimize environmental and human impact. Blazeguard customers include Centex (CTX: NYSE), D.R. Horton (DHI: NYSE), KB Home (KBH: NYSE), and Lennar (LEN: NYSE). Lowe's Companies (LOW: NYSE), Stock Building Supply, and Mule-Hide Products Co., Inc. are Blazeguard distributors. Pyrotite has potential applications with engineered wood products, paint, plastics, and expanded polystyrene.
Barrier is part of the DJ Building Materials Index (US)
INTERNATIONAL BARRIER TECHNOLOGY INC.
Per: "MICHAEL HUDDY"
_______________________
Michael Huddy
President & Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.
Forward-Looking Information: The statements in this news release contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve certain risks, assumptions and uncertainties, including but not limited to the ability to generate and secure product sales. In each case actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized.
Contact:
International Barrier Technology Inc.
Richard Angle, 866-735-3519
ir@intlbarrier.com
or
Dawn Van Zant, ECON Investor Relations, Inc.
dvanzant@investorideas.com
Source: International Barrier Technology Inc.
« back to news releases page
|
