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 Limited