International Barrier Technology Inc., together with its subsidiaries, develops, manufactures, and markets proprietary fire resistant building materials designed to help protect people and property from the destruction of fire in the United States of America. The company has a patented fire protective material (Pyrotite) that is applied to building materials to improve their respective fire resistant properties. The company uses a patented, non-combustible, non-toxic Pyrotite formulation that is used to coat wood panels and has application to engineered wood products, paint, plastics, and expanded polystyrene. Coated wood panel products are sold to builders through building product distribution companies all over the United States. The company’s Pyrotite is a fire-barrier material that includes the patented formulation reinforced with chopped fiberglass strands and applied adhered directly to structural sheathing (OSB – oriented strand board or plywood) designed to prevent ignition and inhibit the spread of flames. The products are marketed through supply agreements as LP FlameBlock Fire-Rated OSB Sheathing into residential roof deck, wall assembly, wildland urban interface zones, and structurally insulated panel market; and MuleHide FR Deck Panel into the commercial modular market. The agreement gives LP Building Products (LP) the right to sell Pyrotite treated panel products in North America, in all markets other than commercial modular (MuleHide Products, Inc. (MuleHide)) under their brand name LP FlameBlock Fire-Rated OSB Sheathing. During 2014, the company granted a license for the manufacture and distribution of Pyrotite products in a plant in the European Union and Russia. Customers The company sells LP FlameBlock Fire-Rated OSB Sheathing to LP and sales to LP accounted for 72% of 2014 revenues. It sells MuleHide FR Deck Panel to MuleHide and sales to MuleHide accounted for 28% of 2014 revenues. LP FlameBlock is sold through wholesale distribution companies, such as Boise, Cedar Creek, Curtis Lumber, ProBuild, Reliable Wholesale, Taiga Building Products, Vandermeer Forest Products, Universal Forest Products, and Weekes Forest Products. The FR Deck Panel is distributed through ABC Supply Company locations throughout the United States. Research and Development During the year ended June 30, 2014, the company incurred research and development costs of $27,740. Seasonality The company’s Pyrotite products are sold in housing markets that have winter business, including the states of Georgia, Texas, Florida, and California. History The company was founded in 1986. It was incorporated in British Columbia under the British Columbia Company Act in 1986. The company was formerly known as Barrier Technology Inc. and changed its name to International Barrier Technology Inc. in 1996.
intl barrier technology inc
(IBH:TSX Venture Exchange)
510 4th Street North
Watkins, MN 55389
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