WESCAST INDUSTRIES INC WCSTF

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Wescast Industries Inc. to Evaluate Strategic Alternatives
3/24/2011 8:47:17 AM - Market Wire

BRANTFORD, ONTARIO, Mar 24, 2011 (MARKETWIRE via COMTEX News Network) --
Wescast Industries Inc. (TSX: WCS.A) today announced that its Board of Directors is undertaking a review of strategic alternatives for the Company with the objective of enhancing shareholder value. A Special Committee of the Company's Board of Directors has been established to assist with this process. The Board of Directors has retained Canaccord Genuity Corp. to act as its advisor.

Mr. Jim Barton, Chairman of the Special Committee, said, "We believe that this is an opportune time for Wescast to explore alternatives for enhancing shareholder value. The process is being undertaken in the context of recent events including the recovery in the auto sector and the Company's recent program wins with key customers. As we go through this process, we will continue to focus on the long-term initiatives and operating strategies previously identified to ensure continued growth opportunities for the Company."

"I am pleased that the Board and Special Committee support this initiative," said Ed Frackowiak, Chairman and CEO." "In the meantime, it is business as usual for our employees, customers and suppliers."

There is no defined timeline for this strategic review and there can be no assurance that the review of strategic alternatives will result in any specific action. The Company does not intend to comment further regarding the evaluation of strategic alternatives, unless a specific transaction or process is concluded, or it otherwise deems
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