Business
Linamar Corporation Announces No Final Offer for French and Spanish Foundries Will be Made
Linamar Corporation Announces No Final Offer for French and Spanish Foundries Will be Made...
About this update from Linamar Corporation
[{"type":"text","content":"\n\n\n\nLinamar Corporation Announces No Final Offer for French and Spanish Foundries Will be Made\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\nCanada NewsWire\nGUELPH, ON, Sept. 29, 2017\n\n\n\nGUELPH, ON, Sept. 29, 2017 /CNW/ - On July 4, 2017, Linamar Corporation (TSX:LNR) announced that a wholly-owned subsidiary of Linamar had filed conditional offers with the Commercial Court in Paris to acquire selected assets of Societe Aveyronnaise de Metallurgie S.A. (\"SAM\") and F.V.M. Technologies S.A. (\"FVM\") from their respective bankruptcy estates and 100% of the outstanding shares of Alfisa Technologies, S.L.U. (Alfisa) a Spanish company for a total consideration of approximately 6 million Euros.  (These proposed transactions are collectively referred to as the \"Offers\" or the \"Acquisitions\"). \n\nAs a result of further due diligence and discussion with various interested parties, Linamar is now not in a position to file final, binding, unconditional Offers and has decided not to pursue these Acquisitions.\n\nLinamar 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 segment, which are further divided into 5 operating groups – Machining & Assembly, Light Metal Casting, Forging, Skyjack and Agriculture, all world leaders in the design, development and production of highly engineered products.  The Company's Machining & Assembly, Light Metal Casting and Forging operating groups focus on precision metallic components, modules and systems for engine, transmission, driveline and body systems designed for global vehicle and industrial markets.  The Company's Skyjack and Agriculture operating groups are noted for their innovative, high quality mobile industrial equipment, notably its class-leading aerial work platforms, telehandlers and agricultural equipment.  With more than 25,600 employees in 59 manufacturing locations, 6 R&D c...