Exco acquires Nova Scotia-based thermoformer
Canadian PlasticsCanadian Plastics
Exco Technologies Ltd. has purchased the outstanding common shares of Dartmouth, NS-based thermoformer, Neocon Inte...
Exco Technologies Ltd. has purchased the outstanding common shares of Dartmouth, NS-based thermoformer, Neocon International Inc. The purchase price was approximately $10.7 million; additionally Exco will assume $4.3 million of Neocon’s debt.
Neocon designs and manufactures plastic automotive cargo management systems. The systems are supplied to OEMs and their Tier 1 suppliers. The company, which employs about 70 people, is expected to generate approximately $14 million in sales for the current fiscal year.
Exco Technologies, based in Markham, ON, is a manufacturer of tools and machinery for the die-casting and extrusion industries; as well Exco designs and supplies precision parts for automotive interiors. The company has approximately 1,800 employees at 12 facilities in Canada, the U.S., Mexico and Morocco.