Exco Technologies Limited Announces Cyber Security Incident
January 23 2023 - 7:20AM
Exco Technologies Limited ("Exco" or the "Company")
(TSX-XTC, OTCQX-EXCOF), a global supplier of
innovative technologies servicing the die-cast, extrusion and
automotive industries, announces that three production facilities
within it’s Large Mould Group are recovering from a cyber incident.
The balance of the Company’s operations remain unaffected.
Upon learning of the incident last week, Exco
took steps to secure its systems and mitigate the impact to the
Company's data and operations. Independent experts have been
retained to assist the Company in dealing with the matter in
accordance with industry best practices.
Exco temporarily disabled certain computer
systems as it investigates this incident. The Company is in the
process of safely bringing these systems back online, and at this
time expects operations to be substantially restored over the next
two weeks.
Exco is currently assessing the financial impact
of the situation. Shipments to customers have not and are not
expected to be materially interrupted.
Exco is committed to data security, is
taking the matter very seriously and thanks its customers and
partners for their understanding as it seeks to remediate the
situation.
Source: |
Exco Technologies Limited (TSX-XTC, OTCQX-EXCOF) |
Contact: |
Darren Kirk, President & Chief Executive Officer |
Telephone: |
(905) 477-3065, Ext 7233 |
Website: |
https://www.excocorp.com |
|
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Notice To Reader: Forward Looking StatementsThis
press release contains forward-looking information and
forward-looking statements within the meaning of applicable
securities laws. We may use words such as "anticipate", "may",
"will", "should", "expect", "believe", "estimate", and similar
expressions to identify forward-looking information and statements
especially with respect to the timing for the investigation and
recovery process, the impact on Exco’s business operations, future
plans, activities, objectives, operations, strategy, business
outlook and financial performance and condition of the Corporation.
These forward-looking statements include known and unknown risks,
uncertainties, assumptions and other factors which may cause actual
results or achievements to be materially different from those
expressed or implied. Forward-looking information contained in this
press release includes Exco’s plans to address the cyber security
incident and its expected impact on Exco’s operations.
Forward-looking is provided in this press release for the purpose
of giving information about Management’s current expectations and
plans and allowing investors and others to get a better
understanding of the Company’s operating environment. However,
readers are cautioned that it may not be appropriate to use such
forward-looking information for any other purpose. Readers are
cautioned not to place undue reliance on forward-looking statements
throughout this document and are also cautioned that the foregoing
list of important factors is not exhaustive. Specifically, the
forward-looking statements herein are subject to the risk that the
investigation of the cyber security breach is in its initial stages
so the assessment of the potential impact could change over time as
more information gathered. The Company will update its
disclosure upon publication of each fiscal quarter's financial
results and otherwise disclaims any obligations to update publicly
or otherwise revise any such factors or any of the forward-looking
information or statements contained herein to reflect subsequent
information, events or developments, changes in risk factors or
otherwise. For a more extensive discussion of Exco's risks and
uncertainties see the 'Risks and Uncertainties' section in our
latest Annual Report, Annual Information Form ("AIF") and other
reports and securities filings made by the Company. This
information is available
at www.sedar.com or www.excocorp.com .
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