WATKINS, MN and VANCOUVER, BC -- (MARKET WIRE) -- November 15, 2006 -- International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), a manufacturer of
proprietary fire-resistant building materials, is pleased to report record
shipments for the month ending October 2006. Eight hundred, seventy-six
thousand, three hundred and eighty-four sq. ft. (876,384) of Blazeguard
products were shipped during October 2006. This is an increase of 100%
from the 439,000 shipped during the same period last year.
Monthly sales revenue increased 56% from $416,810 in October 2005 to
$652,061 in October 2006. During this period sheathing costs, which are a
pass through commodity, continue near all-time lows. This kept top-line
sales revenue lower that what it could have been had sheathing prices been
at or above average historical prices. Fiscal year to date sales revenue
has increased to $2,639,778, an increase of 50% from 2006.
Sales into Southern California grew to 21% of the total monthly sales
volume, which were captured through our distribution arrangement with Bear
Forest Products. Volumes into the multi-family residential roof deck
market remained strong and represented 62% of total sales.
"Efficiencies continue to improve on the production line enabling Barrier
to keep up with increasing demand for Blazeguard," states Dr. Michael
Huddy, President. "As we proceed through the 2nd and 3rd quarters of
Fiscal 2007, we anticipate that the percentage of shipments from the new
line to continue to grow significantly and will help in the further
expansion of sales and improved bottom line performance."
About International Barrier Technology Inc.
International Barrier Technology Inc. (
OTCBB:
IBTGF) (
TSX-V:
IBH) develops,
manufactures, and markets proprietary fire-resistant building materials
branded as Blazeguard®. Barrier's award-winning Blazeguard® wood panels use
a patented, non-toxic, non-combustible coating with an extraordinary
capability: it releases water in the heat of fire. The panels exceed
"model" building code requirements in every targeted fire test and
application, and are unique in combining properties that increase panel
strength and minimize environmental and human impact. Blazeguard® provides
Barrier's customers a premium material choice meeting an increasingly
challenging combination of requirements in residential and commercial
building construction. Blazeguard® customers include four of the five top
US homebuilders.
INTERNATIONAL BARRIER TECHNOLOGY INC.
Michael D. 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 Information:
Melissa McElwee
Investor Relations Manager
International Barrier Technology
(866) 735-3519
Email Contact
For more information please visit:
www.intlbarrier.com