Monday, July 7, 2008

Linamar acquires U.K. plant

Linamar acquires U.K. plantLinamar 3-month TSX chart

Canadian auto parts maker Linamar Corp. said Monday it is making its first venture into the United Kingdom, announcing the acquisition of a plant in Wales.

Linamar, which is headquartered in Guelph, Ont., said it is buying a former Visteon plant in Swansea. The acquisition brings with it 400 employees.

Financial terms were not disclosed.

"The location gives Linamar a new springboard into Europe, particularly for engine-related components and modules, given its engine-focused history," said Linda Hasenfratz, Linamar's CEO, in a release.

The company said it plans to modernize the plant and introduce new products, including camshafts, fly wheels and connecting rods.

Shares of Linamar slipped 52 cents to close at $11.85 on the TSX.



  • Bellatore makes first asset acquisition
  • Chrysler to cut minivan production
  • GM won’t commit to Oshawa plant, Hargrove says
  • Hargrove rules out strike over Ontario GM plant closing
  • 0 comments: