Exco Technologies Limited (TSX-XTC, OTCQX-EXCOF), a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries, announced it closed the acquisition of the extrusion dies business of Halex Holdings GmbH (“Halex® Extrusion Dies”) effective Monday May 2, 2022.
Halex Extrusion Dies was founded in 1997 and operates four key manufacturing locations – two in Germany and two in the northern industrial region of Italy. The company is the second largest manufacturer of aluminium extrusion dies in Europe and the continent’s leading supplier of complex extrusion dies. Halex will complement Exco’s six existing extrusion die operations, located in Canada, USA (2), Mexico, Colombia and Brazil.
As previously announced in December 2021, the transaction is valued at €40 million on an enterprise value basis and was funded with a combination of cash on hand and available bank lines. Halex will add approximately €40 million in annual sales and is expected to be immediately accretive to Exco’s earnings per share.
