March 02, 2005
International Barrier Technology, Inc. Reports $1,394,838 in Revenue to Date From Mule-Hide FR Deck Panels Contract
Fire Resistant Building Materials Company Reports 50,000th board is shipped in February 2005
Watkins, MN; Vancouver, BC March 02, 2005 - International Barrier Technology Inc. (“Barrier”) (IBTGF: OTCBB; IBH: TSXV), a manufacturer of proprietary fire resistant building materials has reported shipping the fifty thousandth Mule-Hide FR Deck Panel in February 2005. This brings the total revenue from the contract to $1,394,838. Barrier produces a proprietary fire rated product that is labelled and shipped as “Mule-Hide FR Deck Panels”. These panels are an integral part of an Underwriters Laboratory, Inc. “listed” roof deck assembly used by modular building manufacturers all over the US. The first shipments to this market began in January 2004.
“Barrier is extremely pleased with the success of the Mule-Hide modular product program,” said Dr. Michael Huddy, International Barrier’s President. Mule-Hide, and their distribution affiliate, ABC Supply, Inc., continue to aggressively promote the new, UL Listed roof deck assemblies and systematically add new manufacturing customers to the family of facilities utilizing the Blazeguard based system. “With each new manufacturing company converted to the Blazeguard based system, Barrier is presented with a long-term, consistent customer helping to not only increase sales volume but to provide consistency in month to month business.
Mule-Hide Products, Inc. is pleased as well. “The FR Deck Panel continues to drive outstanding sales from our modular manufacturer customers”, reports Kim Hendricks, President of Mule-Hide Products Company, Inc. “The panel met the market’s need for an affordable, easy to install, fire rated roof deck assembly for commercial modular structures. Modular manufacturers now have an assembly that withstands high winds and fire while providing superior performance at a lower installed cost.”
“The Mule-Hide Deck FR Panel is an important part of Barrier’s strategy to add new product lines and applications for our proprietary fire retardant technology”, states Huddy. “As we continue to grow, the Mule-Hide experience will provide a successful example of how companies can work together to fill market opportunities and provide significant financial return for their investment.”
About International Barrier Technology Inc.
International Barrier Technology, Inc. develops, manufactures, and markets proprietary fire resistant building materials. Its patented, non-combustible, non-toxic Pyrotite formulation has an extraordinary capability: it releases water when exposed to the heat of fire. Barrier's award-winning Blazeguard wood panels exceed International Building Code requirements in every targeted fire test and application, and uniquely combine properties that increase panel strength and minimize environmental and human impact. Blazeguard customers include D.R. Horton (DHI: NYSE), KB Home (KBH: NYSE), and Lennar (LEN: NYSE). Lowe's Companies (LOW: NYSE), Stock Building Supply, and Mule-Hide Products Co., Inc. are Blazeguard distributors. Pyrotite has potential applications with engineered wood products, paint, plastics, and expanded polystyrene
Barrier is part of the DJ Building Materials Index (US)
INTERNATIONAL BARRIER TECHNOLOGY INC.
Per: "David J. Corcoran"
David J. Corcoran
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.
International Barrier Technology Inc.
Richard Angle, 866-735-3519
ECON Investor Relations, Inc.
Peter Kletas, 866-948-0848
Source: International Barrier Technology Inc.
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