Exco Technologies Limited Announces Completion of Acquisition of Automotive Leather Company Group (Pty) Limited
TORONTO, March 3, 2014 /CNW/ - Exco Technologies Limited (TSX-XTC) is pleased to announce today that it has completed the previously announced acquisition of Automotive Leather Company Group (Pty) Limited ("ALC") by a wholly-owned subsidiary of Exco (see news release dated December 19, 2013).
Pursuant to the terms of the definitive agreement governing the acquisition, the shareholders of ALC received CAD$17.3 million in cash and an aggregate of 973,895 common shares of Exco.
A conference call to discuss the transaction will be held on March 4, 2014 at 10:00 am (Toronto time) and can be accessed by dialing (647) 427-7450 for local (Toronto) calls or toll free 1-888-231-8191. To access the live audio webcast, please log on to www.excocorp.com, or http://www.newswire.ca/en/webcast/detail/1314961/1451965 a few minutes before the event.
Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 13 strategic locations, we employ 2,354 people and service a diverse and broad customer base. Upon completion of the transaction Exco will have 18 locations and employ approximately 5,000 people in 12 countries.
SOURCE Exco Technologies LimitedFor further information:
Exco Technologies Limited (TSX-XTC)
Contact: Paul Riganelli, Senior Vice-President, Chief Operating Officer
Telephone: (905) 477-3065 Ext 7228