- 31 January 2007 -
ZCL acquires Xerxes Corp

ZCL COMPOSITES Inc is to acquire Xerxes Corp following the signing of a share purchase agreement with shareholders of XAHC Inc. XAHC Inc is the sole shareholder of Xerxes, a US-based manufacturer of glass reinforced plastic tanks and other products for the chemical, petroleum, water and wastewater industries.

The purchase price for XAHC is US$40.8 million subject to closing adjustments. The acquisition is expected to close around 28 February 2007. “We are excited about the opportunity to join forces with a well managed industry leader to provide a broader range of products to our Canadian customer base and to increase our market presence in the United States,” comments Ven Côté, president and chief executive office of ZCL.

Headquartered in Edmonton, Alberta, Canada, ZCL Composites Inc is a manufacturer of composite underground storage tanks.

ZCL Composites Inc; www.zcl.com
Xerxes Corp; www.xerxescorp.com

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