WATKINS, MN and VANCOUVER, BC -- (MARKET WIRE) -- February 12, 2007 -- International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), a manufacturer of
proprietary fire resistant building materials, is pleased to report record
January sales revenue and sales volume shipped into the Commercial Modular
Industry. Four-hundred fifty-five thousand, nine hundred (455,900) sq. ft.
of Blazeguard products were shipped into the commercial modular market for
the month ending January 31, 2007. This is a 69% increase from the same
period in the previous year. Total sales for the month of January were
542,700 sq. ft. Five million, four-hundred eighty-six thousand, three
hundred sq. ft. (5,486,300) of Blazeguard products have been shipped
year-to-date, which is an increase of 34% over the 4,095,500 shipped
year-to-date ending January 31, 2006.
January sales revenue in the commercial modular industry increased a
substantial 74%, as the market remains strong in that industry. Blazeguard
sales into the residential roof deck market were impacted by softness in
the housing market. While total sales revenue for January is down,
year-to-date sales revenue is up 14% to $3,993,323 from $3,506,716 reported
last year. During January, sheathing costs, which are a pass through
commodity, continued near all-time lows. This kept top-line sales revenue
lower than what it could have been had sheathing prices been at or above
average historical prices.
"As the inventory of vacant homes continues to fall to sustainable levels,
and housing starts begin to recover, Barrier is well positioned to continue
to increase sales. Improved market share in existing territories, and
expansion into target development markets, such as southern California,
Texas, and Arizona, will further fuel growth in sales volume," states Dr.
Michael Huddy, President. "Growth in sales volume, when coupled with the
efficiencies beginning to be realized with Blazeguard production on the
new, high speed production line, will translate into improved earnings as
the year progresses."
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 many of
the top multifamily homebuilders, and commercial modular building
manufacturers in the United States.
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: Contact:
Melissa McElwee
Investor Relations Manager
International Barrier Technology
(866) 735-3519
Email Contact
For more information please visit:
www.intlbarrier.com