WATKINS, MN and VANCOUVER, BC--(Marketwire - August 16, 2007) - International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), a manufacturer of
proprietary fire-resistant building materials, reports growth of 65% in
Blazeguard shipments and sales revenues into the Commercial Modular Sector
for the month of July. Barrier's July shipments of Blazeguard to
commercial modular construction grew to 488,900 sq. ft., from 296,200 sq.
ft., year to year. Total shipments, for the month of July, however, fell
14.9% to 618,100 sq. ft., due to continued softness in the residential
construction markets which have been a traditionally strong market for
Blazeguard sales. Total revenues generated for the month were $417,561.
Sales into residential markets, particularly multi-family residential
construction, slipped nearly 70% in July, year to year. Blazeguard July
shipments into the residential roof deck market declined to 129,200 sq. ft.
from 430,100 sq. ft. shipped in July 2006. Some of the multi-family
markets traditionally serviced by Barrier, particularly Florida, have been
brutally affected by an abundance of existing unit availability, investor
sale pull-back, and the tightening of mortgage availability.
"Barrier is concerned by the softness in residential construction, but is
pleased that our positioning in commercial modular construction over the
past two years has paid huge dividends by helping make up for residential
sales lost," reports Michael Huddy, Barrier's President and CEO. "While
the recovery in residential market construction is predicted to be slow to
develop, it seems to us that the bottom of the decline has already been
reached and Blazeguard residential sales activity has begun to increase as
a result. In some respects, the softness in new residential construction
has enabled Barrier to focus internally and finish the technological
improvements required to fully operationalize our new production line.
With renewed interest in the commercial portion of the structural
insulative panel market (SIPs), and the essential adoption of the
International Building Code in California, Barrier is well positioned to
finish the calendar year in a very strong way, despite the residential
market situation."
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: Melissa McElwee
Investor Relations Manager
International Barrier Technology
(866) 735-3519
For more information please visit:
www.intlbarrier.com