Exco acquires Halex Extrusion Dies
Halex is said to be the second largest manufacturer of aluminium extrusion dies in Europe.
Toronto-based die cast tooling and auto interior trim supplier Exco Technologies Ltd. has acquired the extrusion dies business of Halex Holdings GmbH.
Founded in 1997, Halex Extrusion Dies operates four key manufacturing locations – two in Germany and two in the northern industrial region of Italy. The company is said to be the second largest manufacturer of aluminium extrusion dies in Europe and a supplier of complex extrusion dies to the continent.
In a May 2 statement, Exco officials said that Halex will complement the company’s six existing extrusion die operations located in Canada, the U.S., Mexico, Colombia, and Brazil.
The transaction was valued at 40 million euros on an enterprise value basis and was funded with a combination of cash on hand and available bank lines. Exco expects that Halex will add approximately 40 million euros in annual sales. Exco will report the results of Halex within its casting and extrusion segment.