Business
Linamar Announces Closing of Dura Battery Enclosures Business
Linamar Announces Closing of Dura Battery Enclosures Business Canada NewsWire ...
About this update from Linamar Corporation
[{"type":"text","content":"\n \n \n \n Linamar Announces Closing of Dura Battery Enclosures Business\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n GUELPH, ON\n \n \n ,\n \n \n Aug. 3, 2023\n \n \n /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\n \n May 30\n \n \n th\n \n 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\n \n August 3\n \n \n rd\n \n .  Each site manufactures advanced batteries enclosures for Battery Electric Vehicle (BEV) applications.\n \n \n \n \n \n \n \n \n \n The three sites, previously owned by Dura-Shiloh are located in\n \n North Macedonia\n \n , Czechia, and\n \n Alabama, USA\n \n and now join the newly formed Linamar Structures Operating Group.\n \n \n \n Linda Hasenfratz\n \n , 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.\"\n \n \n 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\n \n Wednesday August 9th\n \n at\n \n 5pm ET\n \n .  Details for the Q2 Earnings call can be found at\n \n https://www.linamar.com/event/q2-2023-earnings-call/\n \n \n \n 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 ...