GUELPH, ON, June 4, 2013 /CNW/ - Linamar Corporation (TSX:LNR), Muhr und
Bender KG ("MKG") and Mubea Motorkomonenten GmbH ("MMKG") today signed
a Definitive Agreement for Linamar's purchase of MMKG's business of
manufacturing and distributing assembled camshafts, located in
Hildburghausen, Thale and Thale-Warnstedt, Germany.
The camshaft business will be operated out of 3 locations in Germany
employing approximately 110 people.
Linamar is interested in the Mubea assembled camshaft business as it
would further enhance Linamar's product offering in its global camshaft
business where Linamar is already one of the largest suppliers of
camshafts to the automotive OEM's. In addition the business has solid
capabilities in hot forgings which will be a significant enhancement to
Linamar in terms of process diversification.
"We are pleased to add this leading-edge lightweight and fuel efficient
hydroformed and assembled camshaft technology to our existing
technology portfolio on camshafts. Mubea has done an excellent job of
developing very high quality and highly efficient camshaft hydroforming
technologies which we feel will allow us to further penetrate this
exciting global market. In addition, their capabilities in hot forging
production will provide a significant enhancement to our machining and
assembly operations globally," said Linda Hasenfratz, Linamar's CEO.
"We welcome this addition to our team and see great opportunity for
this technology and its growth potential for the future."
This acquisition by Linamar is another example of its dedication to
innovation in manufacturing and advanced process capabilities and
furthers its strategies of globalization, diversification and green
Mubea, a global automotive supplier for springs and related product,
generated sales of 1.3 Bn. € in 2012, an increase of 13% vs. 2011. The
camshaft business represents less than 2% of Mubea's turnover. The sale
of the Business Unit Camshaft is aligned with Mubea's strategy to focus
on weight reducing solutions for products with which it can achieve
market leadership on a global basis, such as engine valve springs,
suspension coil springs and transmission disc springs."
The proposed transaction is subject to, among other things, further due
diligence and regulatory approvals.
Linamar Corporation (TSX:LNR) is a diversified global manufacturing
Company of highly engineered products powering vehicles, motion, work
and lives. The Company is made up of 2 operating segments - the
Powertrain/Driveline segment and the Industrial segments which are
further divided into 4 key divisions - Manufacturing, Driveline,
Industrial Commercial Energy ("ICE") and Skyjack, all world leaders in
the design, development and production of highly engineered products.
The Company's Manufacturing and Driveline divisions focus on precision
metallic components, modules and systems for engine, transmission and
driveline systems designed for passenger vehicle markets. The ICE
group concentrates on similar products for on and off highway vehicle,
energy and other industrial markets. The Company's Skyjack division is
noted for its innovative, high quality mobile industrial equipment,
notably its class-leading aerial work platforms and telehandlers. With
more than 17,400 employees in 40 manufacturing locations, 5 R&D centers
and 15 sales offices in 12 countries in North America, Europe and Asia,
Linamar generated sales of more than $3.22 Billion in 2012. For more
information about Linamar Corporation and its industry leading products
and services, visit www.linamar.com
SOURCE: Linamar Corporation
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