TORONTO, Oct. 18 /PRNewswire-FirstCall/ - Exco Technologies Limited (TSX-XTC) today announced that its Castool division, which designs and manufactures tooling systems for die cast machines and extrusion presses, has entered into a definitive agreement to purchase all of the shares of Allper AG.  Allper is a Swiss corporation which designs and markets proprietary consumable die cast tooling.  Castool, as a licensee of Allper's technology in North America since 1993, is very familiar with Allper's technology and its operation.  Allper's proprietary ring and plunger tip technology which has been developed and refined over the last 20 years is broadly accepted by the die cast industry and is an integral part of Castool's die cast tooling system.  Paul Robbins, General Manager of Castool says "this acquisition will allow Castool to own the technology currently licensed from Allper in North America and, with Allper's network of sales agents and distributors in Europe and Asia, Castool will be able to expand its marketing reach to those markets."  Andre Muller, founder and owner of Allper, who will continue on in the employ of Allper after the sale, says "I am proud of our association and close collaboration with Castool over the past 17 years and look forward to continuing the development of new technologies which will advance the competitiveness of the global die cast industry."  Definitive agreements have been signed and the transaction will have effect and be finally priced on October 31, 2010.  The purchase price is not expected to exceed $2,000,000.00 which will be paid in cash and will be based on the value of underlying net assets acquired on October 31, 2010.  The acquisition is expected to be immediately accretive to Exco's earnings.

Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 10 strategic locations, we employ 1,580 people and service a diverse and broad customer base.

This Press Release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws with respect to: 1) business unit sales and earnings and 2) improvement in economic conditions. We use words such as "anticipate", "plan", "may", "will", "should", "expect", "believe", "estimate", "approximately", "confident", "modestly" and similar expressions to identify forward-looking information and statements.  Such forward-looking information and statements are based on assumptions and analyses made by management in light of our field experiences and our interpretation of recent and current automotive and industrial sales trends which are expected to continue into the near future, as well as economic conditions and other factors we believe to be relevant. Readers are cautioned not to place undue reliance on forward-looking information and statements, as there can be no assurance that the assumptions, plans, intentions or expectations upon which such statements are based will occur.  Forward-looking information and statements are subject to known and unknown risks, uncertainties, assumptions and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed, implied or anticipated by such information and statements.  These risks, uncertainties and assumptions are described in the Company's Management's Discussion and Analysis included in our 2009 Annual Report, in our 2009 Annual Information Form and, from time to time, in other reports and filings made by the Company with securities regulatory authorities.

While the Company believes that the expectations expressed by such forward-looking information and statements are reasonable, there can be no assurance that such expectations and assumptions will prove to 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.  Furthermore, the Company 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 unless such factor is in and of itself material.

SOURCE Exco Technologies Limited

Copyright . 18 PR Newswire

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