Exco Technologies Limited Announces Opening of Latest Production Facility in Morocco

Rhea-AI Summary

Exco Technologies Limited announced the opening of a new 40,000 sq. ft. production facility in Kenitra, Morocco, enhancing its Castool division. This facility complements existing operations in Canada and Thailand, allowing better service to customers in Europe, the Middle East, and Africa. The expansion aims to meet increasing global demand for complex tooling, particularly driven by the electric vehicle sector. This marks Exco's 16th strategic manufacturing site, contributing to its growth targets and ESG priorities.

Positive

• Opening of a new 40,000 sq. ft. facility in Morocco enhances production capacity.
• Facility allows better service to customers in Europe, Middle East, and Africa.
• Supports growing demand for complex tooling in the electric vehicle sector.
• Strategic expansion aligns with Exco's growth targets and ESG priorities.

Negative

• None.

TORONTO, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Exco Technologies Limited (TSX – XTC, OTCQX – EXCOF) today announced the opening of its latest production facility by its Castool division in Kenitra, Morocco. This 40,000 sq. ft. building represents the third Castool division facility complementing our existing operations in Uxbridge, Canada and Chon Buri, Thailand.

“We started Castool in Canada in 1986 to support our existing die casting and extrusion customers, to make our customers’ castings and profiles better and faster,” said Paul Robbins, Castool’s Vice President and General Manager. “Since then, Castool has gained acceptance globally as a preferred supplier to many of the global automotive companies, extrusion press/die cast machine manufacturers, extruders and die casters.”

This new facility will enable Castool to better serve its customers in Europe, the Middle East, and Africa. It will also provide increased capacity to meet the growing global demand for larger and more complex tooling driven by the electric vehicle revolution the worldwide movement towards reducing emissions.

“I congratulate Castool on the opening of their facility in Morocco, where I know they will have tremendous success,” said Darren Kirk, President and CEO of Exco. “This represents Exco’s 16^th strategic manufacturing facility and it is also an important driver towards achieving our growth targets and advancing our ESG strategic priorities.”

Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 16 strategic locations in 7 countries, we employ approximately 4,900 people and service a diverse and broad customer base.

Source:	Exco Technologies Limited (TSX-XTC)
Contact:	Darren Kirk, President & Chief Executive Officer
Telephone:	(905) 477-3065, Ext 7233
Website:	http://www.excocorp.com

FAQ

What is the significance of Exco Technologies' new facility in Morocco?

The new facility enhances production capacity and allows better service to customers in Europe, the Middle East, and Africa.

How does Exco's new facility align with market demand?

The facility supports the growing demand for larger and more complex tooling, particularly in the electric vehicle sector.

How many manufacturing facilities does Exco Technologies have?

Exco Technologies now has a total of 16 strategic manufacturing facilities worldwide.

What are Exco Technologies' growth targets related to this expansion?

The expansion contributes to Exco's overall growth targets and advances its ESG strategic priorities.