WATKINS, MN and VANCOUVER, BC--(Marketwire - November 15, 2007) - International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), a manufacturer of
proprietary fire-resistant building materials, shipped 611,008 square feet
of Blazeguard products in the month ending October 31, 2007, resulting in
$403,556 in revenue. Shipments into the commercial modular sector rose 75%
from 329,700 square feet in October 2006 to 577,800 square feet. The
revenue generated in this sector increased by 86% year over year. Total
sales volumes are down 265,392 square feet from last year's shipments of
876,400 square feet, as is revenue ($652,229 in 2006). Ironically, of that
total, we shipped 269,600 square feet into Florida last year.
Barrier's President and CEO, Michael Huddy, recently traveled to Florida to
visit local distributors and current Residential Roof Deck projects.
"While the region is still impacted by existing inventory of unoccupied
units, Florida is beginning to see activity," states Dr. Michael Huddy.
"Some builders are recovering faster than others. Multifamily builders
with projects in prime locations and in the right price range seem to have
moved their inventories and are cautiously laying the ground work for new
projects. Other higher-end builders are still being directly impacted by
the slow market. Blazeguard Fire-Rated Sheathing was installed in several
of the active projects visited and could be seen on the job-site of many
others in the Tampa area. We are confident as the multifamily construction
recovers, builders will continue to choose Blazeguard to meet their fire
code requirements."
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
For more information please visit:
www.intlbarrier.com
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