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
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