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Press release from Marketwire

Linamar Corporation Announces Further Purchase of Shares of Linamar Hungary NYRT

Friday, July 02, 2010

Linamar Corporation Announces Further Purchase of Shares of Linamar Hungary NYRT11:41 EDT Friday, July 02, 2010GUELPH, ONTARIO--(Marketwire - July 2, 2010) - Linamar Corporation (TSX:LNR) ("Linamar" or the "Corporation") announced today that it has purchased a further 2,469,728 of the outstanding ordinary shares of Linamar Hungary NYRT ("Linamar Hungary") at a price of HUF 2,570 per share (approximately CAD 11.74 per share) in cash. The purchase was completed between Linamar and several of the larger shareholders of Linamar Hungary.Linamar previously owned approximately 6,027,450 Linamar Hungary shares, representing approximately 70.3% of the outstanding Linamar Hungary shares. Upon completion of this purchase, Linamar now owns approximately 8,497,178 Linamar Hungary shares, representing approximately 99.0% of the outstanding Linamar Hungary shares.In announcing the purchase, Linda Hasenfratz, Linamar's Chief Executive Officer said, "We are pleased with successfully acquiring this additional interest in Linamar Hungary. Integration of Linamar Hungary fully into our global organization has long been a strategic goal of Linamar to maximize operational flexibility and allow us to fully leverage our global R&D efforts."Linamar Corporation is a diversified global manufacturing company of highly engineered products powering vehicles, motion, work and lives. The company's Powertrain and Driveline focused divisions are world leaders in the collaborative design, development and manufacture of precision metallic components, modules and systems for global vehicle and power generation markets. The company's Industrial division is a world leader in the design and production of innovative mobile industrial equipment, notably its class-leading aerial work platforms and telehandlers. With close to 11,000 employees in 37 manufacturing locations, 5 R&D centers and 11 sales offices in Canada, the US, Mexico, Germany, Hungary, the UK, China, Korea and Japan, Linamar generated sales of close to $1.7 Billion in 2009. For more information about Linamar Corporation and its industry leading products and services, visit www.linamar.com.Certain information regarding Linamar set forth in this document, including management's assessment of the Company's future plans and operations may constitute forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from these anticipated in the forward-looking statements due to factors such as customer demand and timing of buying decisions; product mix; competitive products; the cost, timing and effectiveness of cost reduction initiatives; and pricing pressure. In addition, uncertainties and difficulties in domestic and foreign financial markets and economies could adversely affect demand from customers. These factors, as well as general market, economic and political conditions, may in turn have a material adverse effect on the Company's financial results. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.FOR FURTHER INFORMATION PLEASE CONTACT: Linamar Corporation Andrea Bowman Media & Investor Relations 519-836-7550 ext. 2007 or 519-830-2611 andrea.bowman@linamar.com