WATKINS, MN and VANCOUVER, BC--(Marketwire - March 17, 2008) - International Barrier
Technology Inc. ("Barrier") (
OTCBB:
IBTGF) (
TSX-V:
IBH), a manufacturer of
proprietary fire resistant building materials, is pleased to report double
digit growth in overall sales revenue and sales volume for the month of
February 2008. Overall sales revenue increased 52% to $464,020 from the
$304,581 in February of 2007. Revenues attributed to all product types
increased. In February 2008,
Multi-family Residential Roof Deck revenues increased 115% to $62,725;
Commercial Modular revenues increased 46% to $182,920; and revenue from the
Structural Insulated Panel market increased 100% (vs. the $29,245;
$125,506, and $0 generated from these respective markets in 2/2007). Sales
revenues year to date are $3,112,179, as compared to $4,281,695 year to
date in 2007.
Shipments of Blazeguard products into the building industry for the month
totalled 717,300 sq. ft. (This is a 60% increase over the 447,600 sq. ft.
shipped overall in February 2007.) Of the total, 554,300 sq. ft. was
shipped into the Commercial Modular Market (an increase of 46% over the
380,300 sq. ft. in 2/2007), 142,800 sq. ft. went into the Multi-family
Residential Roof Deck Market (112% increase over 67,300 sq. ft. in 2/2007),
and 20,200 sq. ft. shipped into the Structural Insulated Panel Market.
Year to date sales are 4,673,900 sq. ft., in comparison to 5,933,900 sq.
ft. during the same period last year.
"Barrier is encouraged by the increase in sales for February," states
Michael Huddy, Barrier's President & CEO. "While a single month does not
represent a trend, we feel that business is improving in some of the
markets and regions we serve. Blazeguard specified and sold into the Ft.
Sill military project bodes well for future commercial modular sales and
the addition of two independent sales representatives in the south part of
Texas should help jump start sales there in the multi-family residential
sector. We are cautiously optimistic for continued improvement in
shipments during 2008."
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
For more information please visit:
www.intlbarrier.com