International Beryllium Corp. (TSX-V:IB) plans to buy a U.S. beryllium product manufacturer for an undisclosed sum after the Vancouver company signed a letter of intent to buy the private company, whose name was not disclosed.
The deal is subject to due diligence and the approval of shareholders and both companies' boards of directors.
It follows International Beryllium's $10 million acquisition of Pennsylvania-based Freedom Alloys Inc., which was announced in March.
International Beryllium's share price range during the past week: between $0.51 and $0.60; 52-week high: $0.98; 52-week low: $0.44.