WATKINS, MN--(Marketwire - January 25, 2011) - International Barrier Technology Inc. ("Barrier") (OTCBB: IBTGF) (TSX-V: IBH) is pleased to announce the ratification of a three-year supply agreement with LP® Building Products (LP). The agreement extends the exclusive supply agreement ratified in January 2010 through December 31, 2013. Under the terms of the agreement, Barrier Technology Corporation will continue to manufacture LP® FlameBlock® Fire-Rated OSB Sheathing, utilizing Barrier's proprietary Pyrotite® Technology, at Barrier's existing manufacturing facility in Watkins, MN.
Judy Musgrove, LP's OSB Marketing Manager, reflects on the agreement in stating: "...LP® FlameBlock® is a critical component of LP's value-added OSB strategy. LP believes that fire treated OSB products will be more and more important over time and is proud to have the only cementitious fire treated OSB product on the market."
LP® FlameBlock® was first introduced to the building industry at the International Builder's Show in Las Vegas in January 2010. According to Dr. Michael Huddy, Barrier's President and CEO: "Both LP and Barrier were encouraged by 2010's success in building awareness and developing prospects for LP® FlameBlock® in the building industry. We are well positioned and resolved to help builders and building designers provide effective solutions for fire-rated construction in 2011 and beyond."
International Barrier Technology Inc. (OTCBB: IBTGF) (TSX-V: IBH) develops, manufactures, and markets proprietary fire-resistant building materials branded as LP® FlameBlock® Fire-Rated OSB Sheathing and Mule-Hide FR Deck Panel. Barrier's award-winning fire-resistant 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. Barrier's family of products provides customers a premium material choice meeting an increasingly challenging combination of requirements in residential and commercial building construction. For more information please visit www.intlbarrier.com.