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EXCO ( R ) Source : Exco Technologies Ltd. December 20 , 2021 06:30 ET Exco Technologies Limited to Acquire Halex Extrusion Dies TORONTO , Dec. 20 , 2021 ( GLOBE NEWSWIRE ) -- 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