Business
Exco Announces Sale of Techmire
Exco Announces Sale of Techmire.
About this update from Exco Technologies Limited
[{"type":"text","content":"\n\n\n\nTORONTO, Sept. 28 /CNW/ - Exco Technologies Limited (TSX-XTC) today\nannounced the sale, subject to closing escrow arrangements, of its Techmire\ndivision in Montreal to Dynacast, a global manufacturer of precision\nengineered, die cast metal and small components. The cash sale includes all\nassets of the Techmire business excluding the production facility which will\nbe leased to Dynacast on a short term basis and thereafter sold. The sale of\nthe Techmire business is not expected to be materially different from the\ncarrying value of the purchased assets. This divestiture will allow Exco\nmanagement to better enhance shareholder value by focusing more closely on\nimproving margins in its core businesses and taking advantage of other growth\nopportunities.\n\n\nExco Technologies Limited is a global supplier of innovative technologies\nservicing the die-cast, extrusion and automotive industries. Through our 11\nstrategic locations, we employ 2,100 people and service a diverse and broad\ncustomer base.\n\n\nThis news release contains forward-looking information and\nforward-looking statements within the meaning of applicable securities laws.\nWe use words such as "anticipate", "plan", "may", "will", "should", "expect",\n"believe", "estimate" and similar expressions to identify forward-looking\ninformation and statements. Such forward-looking information and statements\nare based on assumptions and analyses made by us in light of our experience\nand our perception of historical trends, current conditions and expected\nfuture developments, as well as other factors we believe to be relevant and\nappropriate in the circumstances. Readers are cautioned not to place undue\nreliance on forward-looking information and statements, as there can be no\nassurance that the assumptions, plans, intentions or expectations upon which\nsuch statements are based will occur. Forward-looking information and\nstatements are subject to known and unknown risks, uncertainties, assumptions\nand other factors which may cause actual results, performance or achievements\nto be materially different from any future results, performance or\nachievements expressed, implied or anticipated by such information and\nstatements. These risks, uncertainties and assumptions include, ...