Wescast Industries Inc.

Wescast Industries Inc.

August 02, 2005 16:00 ET

Wescast Vice President and Chief Financial Officer Resigns

BRANTFORD, ONTARIO--(CCNMatthews - Aug. 2, 2005) - Wescast Industries Inc. ("Wescast")(TSX:WCS.SV.A) today announced the resignation of Gordon Currie who has been the company's Vice President and Chief Financial Officer for the past two years, and the appointment of Dave Dean as V.P. Finance.

"Gord was an excellent asset to the company and the executive team and while I am disappointed to see him go, completely understand his personal circumstances," said Ed Frackowiak, Chairman and CEO.

"This was a difficult decision for me. Wescast has been a great company to work for and I have enjoyed my tenure there," said Mr. Currie.

Mr. Dean has been Director of Corporate Finance for the past three years and has been working closely with Mr. Currie in leading the corporate finance group at Wescast.

About Wescast

Wescast Industries Inc. is the world's largest supplier of exhaust manifolds for passenger cars and light trucks. The Company designs, casts, machines and assembles high-quality iron exhaust manifolds, turbo charger housings and integrated turbo manifolds for automotive OEMs. The Company's global sales and design activities are co-ordinated through its technical development centre in Canada and supported by sales and design centres in the United States, Japan and Europe. The Company operates seven production facilities in North America and Europe, including a 49% interest in United Machining Inc., an accredited Minority supplier in Michigan. The Company is recognized worldwide for its quality products, innovative design solutions and highly committed workforce.

Learn more at www.wescast.com.

Forward Looking Statements

Wescast and its representatives may periodically make written or oral statements that are "forward-looking", including statements included in this news release and in our filings with applicable Securities Commissions and in reports to our stockholders. These statements may be identified by words such as "believe," "anticipate," "project," "expect," "intend" or other similar expressions, and include all statements which address operating performance, events or developments that we expect or anticipate may occur in the future (including statements relating to future sales or earnings expectations, volume growth, awarded sales contracts and earnings per share expectations or statements expressing general optimism about future operating results). Such statements involve risks and uncertainties that may cause unanticipated events and actually evolve to be materially different from those either expressed or implied. These factors include, but are not limited to, risks associated with the automotive industry, production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, environmental risks, competition from other producers and ability to access sufficient capital from internal and external sources; as a consequence, actual results may differ materially from those anticipated in the forward-looking statements. For more detailed information regarding these risks you may refer to Wescast's publicly filed documents with applicable Canadian securities authorities. Wescast undertakes no obligation to update any of these forward-looking statements.

Contact Information

  • Wescast Industries Inc.
    Mr. Ed Frackowiak
    Chairman & Chief Executive Officer
    (519) 750-0000