Noranco Inc. Acquires MBM and Excentrotech

PICKERING, ONTARIO (March 5, 2008), Noranco Inc. announced today that it has completed the acquisitions of MBM Tool & Machine Co. Ltd. and Excentrotech Precision Inc.

The three companies have amalgamated to form one company under the name “Noranco Inc.” but will operate 3 divisions: Noranco, MBM and Excentrotech. The former owners of MBM and Excentrotech have become shareholders of Noranco Inc. and will continue to manage their respective divisions.

The combined company, with more than 400 employees across three manufacturing sites in the Greater Toronto Area is now one of the larger tier 2 aerospace companies. Noranco Inc. has a broad range of aerospace manufacturing capabilities that include sheet metal fabrication, precision CNC machining of aluminum and hard metals, assembly, and testing. It produces a large variety of small to large aerospace products for a wide variety of applications, including electronic/power distribution chassis, stringers, landing gear, auxiliary power units, and environmental control systems.

Noranco Inc. will continue to maintain the stringent quality control programs and certifications of each of the merged companies, including AS9100, ISO 9001, and NADCAP for certain processes. The strong strategic fit between Noranco, MBM and Excentrotech will offer substantial customer benefits and create significant synergies through complementary manufacturing and service offerings.

Bernardo Sztabinski, CEO and Chairman of the Board of Directors, commented: “The three companies have a track record of independent success. Together though, we are better. Our combined capabilities will enable us to competitively expand our manufacturing offering to include sub-system integration and assembled product supplied to ‘point of use’. These synergies will create growth in the value chain for existing and new customers.”

Bedford Capital (www.bedfordcapital.ca) is the majority shareholder of Noranco Inc.

For more information, contact Eli Brigler, President of Noranco Inc. at 905-831-0100 ext 336.