GUELPH,
ON, Aug. 3, 2023 /CNW/ - Linamar Corporation
(TSX: LNR) today announced that it has completed its acquisition of
3 Dura-Shiloh's Battery Enclosures facilities. The
acquisition was previously announced on May
30th and had been subject to customary regulatory
approval and other closing conditions. Those pre-closing
hurdles have now all been finalized and the transaction has closed
as of August 3rd.
Each site manufactures advanced batteries enclosures for Battery
Electric Vehicle (BEV) applications.
The three sites, previously owned by Dura-Shiloh are located in
North Macedonia, Czechia, and
Alabama, USA and now join the
newly formed Linamar Structures Operating Group.
Linda Hasenfratz, Linamar
Executive Chair and CEO commented "We are excited to complete this
acquisition, a further step forward in Linamar's transition towards
an Electrified Mobility world, bolstering our growing Structures
& Chassis business portfolio."
Linamar management will provide further insights into the
strategic rationale and details of the transaction during its
upcoming Q2 2023 Earnings Conference Call to be held on
Wednesday August 9th at 5pm ET. Details for the Q2 Earnings call
can be found at
https://www.linamar.com/event/q2-2023-earnings-call/
Linamar Corporation (TSX: LNR) is an advanced manufacturing
company where the intersection of leading-edge technology and deep
manufacturing expertise is creating solutions that power vehicles,
motion, work and lives for the future. The Company is made up of
two operating segments – the Industrial segment and the Mobility
segment, both global leaders in manufacturing solutions and
world-class developers of highly engineered products. The
Industrial segment is comprised of Skyjack, MacDon and Salford. Skyjack manufactures scissor, boom
and telehandler lifts for the aerial work platform industry. MacDon
manufactures combine draper headers and self-propelled windrowers
for the agricultural harvesting industry. Salford also supplies the agriculture market
with farm tillage and crop fertilizer applicator equipment. The
Mobility segment is focused on propulsion systems, structural and
chassis systems, energy storage and power generation for both the
global electrified and traditionally powered vehicle markets, and
is subdivided into three regional groups and one global product
group: North America, Europe, Asia
Pacific and the newly formed Structures Group. The Regional
Mobility groups are vertically integrated operations combining
expertise in light metal casting, forging, machining and assembly.
The Linamar Structures Group offers competitive lightweight
innovations for safety-critical components and systems for the
global mobility market. In addition, the eLIN Product Solutions
Group focuses on Electrification and McLaren Engineering provides
design, development, and testing services for the Mobility segment.
Linamar's medical solutions group, Linamar MedTech, focuses on
manufacturing solutions for medical devices and precision medical
components. Linamar has over 31,000 employees in 69 manufacturing
locations, 14 R&D centres and 28 sales offices in 19 countries
in North and South America,
Europe and Asia, which generated sales of more than
$7.9 billion in 2022. For more
information about Linamar Corporation and its industry-leading
products and services, visit www.linamar.com or follow us on our
social media channels.
SOURCE Linamar Corporation
