Exco Technologies Limited to Acquire Halex Extrusion Dies
20 Dezember 2021 - 12:30PM
Exco Technologies Limited (TSX-XTC, OTCQX-EXCOF) a
global supplier of innovative technologies servicing the die-cast,
extrusion and automotive industries, today announced it has signed
a definitive agreement to acquire the extrusion dies business of
Halex Holdings GmbH (“Halex® Extrusion Dies”). The transaction is
expected to close in the spring of 2022.
“This acquisition will provide us with
well-established and high-quality operations, manufacturing complex
extrusion dies in Europe and will also allow us to better support
our global customers”, said Nick Gnatyuk, Vice President and
General Manager of Exco’s Extrusion Group. “We have been looking to
expand into Europe for some time and we see Halex as the perfect
fit”.
Halex Extrusion Dies was founded in 1990 and
operates four key manufacturing locations – two in Germany and two
in the northern industrial region of Italy. The company is the
second largest manufacturer of aluminium extrusion dies in Europe
and the continent’s leading supplier of complex extrusion dies.
Halex will complement Exco’s six existing extrusion die operations,
located in Canada, USA (2), Mexico, Colombia and Brazil.
The transaction is valued at €40 million (C$58
million equivalent) on an enterprise value basis and will be funded
with a combination of cash on hand and available bank lines. Halex
will add almost €40 million in annual sales and is expected to be
immediately accretive to Exco’s earnings per share. Exco will
report the results of Halex within its Casting and Extrusion
segment.
“The acquisition of Halex is a unique
opportunity to add a strategic asset that will accelerate Exco’s
growth and sustainability objectives”, said Darren Kirk, President
and CEO of Exco. “We look forward to welcoming all Halex employees
to Exco”.
A conference call to discuss the transaction
will be held today at 10:00 am (Toronto time). To access the live
audio webcast, please log on to www.excocorp.com, or
https://edge.media-server.com/mmc/p/6idkgeqn a few minutes before
the event. . The conference call can be accessed by dialing toll
free at (866) 572-8261 or internationally at (703) 736-7448. The
conference ID is 7280532.
Source: |
Exco
Technologies Limited (TSX-XTC, OTCQX-EXCOF) |
Contact: |
Darren Kirk, President and Chief Executive Officer |
Telephone: |
(905) 477-3065 Ext. 7233 |
Website: |
http://www.excocorp.com |
About Exco Technologies Limited:
Exco Technologies Limited is a global supplier
of innovative technologies servicing the die-cast, extrusion and
automotive industries. Through our 16 strategic locations in 7
countries, we employ about 4,900 people and service a diverse and
broad customer base.
Notice To Reader: Forward Looking Statements
This press release contains forward-looking information and
forward-looking statements within the meaning of applicable
securities laws. We use words such as "anticipate", "may", "will",
"should", "expect", "believe", and similar expressions to identify
forward-looking information and statements, especially with respect
to sales, earnings per share and transaction closing date. These
forward-looking statements include known and unknown risks,
uncertainties, assumptions and other factors which may cause actual
results or achievements to be materially different from those
expressed or implied. These forward-looking statements are based on
our plans, intentions or expectations which are based on, among
other things, the ability to successfully close the transaction in
the timing as indicated in this release, the current global
economic recovery from the COVID-19 pandemic and containment of any
future or similar outbreak of epidemic, pandemic, or contagious
diseases that may emerge in the human population, which may have a
material effect on how we and our customers operate our businesses
and the duration and extent to which this will impact our future
operating results or the future results of Halex. Readers are
cautioned not to place undue reliance on forward-looking statements
throughout this document and are also cautioned that the foregoing
list of important factors is not exhaustive. The Company will
update its disclosure periodically and otherwise disclaims any
obligations to update publicly or otherwise revise any such factors
or any of the forward-looking information or statements contained
herein to reflect subsequent information, events or developments,
changes in risk factors or otherwise. For a more extensive
discussion of Exco's risks and uncertainties see the 'Risks and
Uncertainties' section in our latest Annual Report, Annual
Information Form ("AIF") and other reports and securities filings
made by the Company. This information is available
at www.sedar.com or www.excocorp.com.
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