Press release from CNW Group
Linamar To Acquire The Camshaft Business of Muhr und Bender KG and Mubea Motorkomponenten GmbH
Tuesday, June 04, 2013
Linamar To Acquire The Camshaft Business of Muhr und Bender KG and Mubea Motorkomponenten GmbH19:19 EDT Tuesday, June 04, 2013
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 technologies.
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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