TORONTO, April 13, 2016 /CNW/ - Exco Technologies Limited (TSX-XTC) today is pleased to announce that the Canadian federal government will support its project to significantly reduce the time and cost associated with producing large high-pressure die-cast moulds through investment in state-of-the-art manufacturing, process, and information technologies. The project is expected to cost up to CAD $9.2 million of which the Federal Government's Automotive Supplier Innovation Program will provide a non-repayable contribution of up to 50% of the project costs.
Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 20 strategic locations in 10 countries, we employ 6,697 people and service a diverse and broad customer base.
Any information in this news release relating to the receipt of funds under this Automotive Supplier Innovation Program and the successful completion of the said project are forward-looking statements.
Readers are cautioned not to place undue reliance on forward-looking statements in this news release. These forward-looking statements are based on our plans, intentions or expectations which are based on, among other things, assumptions about the timing and effectiveness of the said project and its components and possible satisfaction of certain grant conditions.
While Exco believes that the expectations expressed by such forward-looking statements are reasonable, we cannot assure that they will be correct. In evaluating forward-looking information and statements, readers should carefully consider the various factors which could cause actual results or events to differ materially from those indicated in the forward-looking information and statements. Readers are cautioned that the foregoing list of important factors is not exhaustive.
SOURCE Exco Technologies Limited
For further information: Source: Exco Technologies Limited (TSX-XTC), Contact: Paul Riganelli, Senior Vice President and Chief Operating Officer, Telephone: (905) 477-3065 Ext. 7228, Website: http://www.excocorp.com