Exco Technologies Limited Closes Acquisition of Halex Extrusion Dies
02 Mai 2022 - 11:01PM
Exco Technologies Limited (TSX-XTC, OTCQX-EXCOF) a
global supplier of innovative technologies servicing the die-cast,
extrusion and automotive industries, today announced it closed the
acquisition of the extrusion dies business of Halex Holdings GmbH
(“Halex® Extrusion Dies”) effective Monday May 2, 2022.
Halex Extrusion Dies was founded in 1997 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.
As previously announced on December 20, 2021,
the transaction is valued at €40 million on an enterprise value
basis and was funded with a combination of cash on hand and
available bank lines. Halex will add approximately €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.
Source: |
|
Exco Technologies Limited (TSX-XTC, OTCQX-EXCOF) |
Contact: |
|
Darren Kirk, President and Chief Executive Officer |
Telephone: |
|
(905) 477-3065 Ext. 7233 |
Website: |
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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 20 strategic locations in 9
countries, we employ about 5,000 people and service a diverse and
broad customer base.
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expressed or implied. These forward-looking statements are based on
our plans, intentions or expectations which are based on, among
other things, the current improving 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,
the impact of the Russian invasion of Ukraine on the global
financial and automotive markets, including increased supply chain
risks, assumptions about the number of automobiles produced in
North America and Europe, production mix between passenger cars and
trucks, the number of extrusion dies required in North America and
South America, the rate of economic growth in North America, Europe
and emerging market countries, investment by OEMs in drivetrain
architecture and other initiatives intended to reduce fuel
consumption and/or the weight of automobiles in response to rising
climate risks, raw material prices, supply disruptions, economic
conditions, inflation, currency fluctuations, trade restrictions,
our ability to integrate acquisitions, our ability to continue
increasing market share, or launch of new programs and the rate at
which our current and future greenfield operations in Mexico and
Morocco achieve sustained profitability. 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 upon publication of each fiscal quarter's financial
results 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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