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Linamar Corporation Announces Offer for French and Spanish Foundries to Further Strengthen its Position in Light Metal Casting
Linamar Corporation Announces Offer for French and Spanish Foundries to Further Strengthen...
About this update from Linamar Corporation
[{"type":"text","content":"\n\n\n\nLinamar Corporation Announces Offer for French and Spanish Foundries to Further Strengthen its Position in Light Metal Casting\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, July 4, 2017\n\n\n\nGUELPH, ON, July 4, 2017 /CNW/ -  Linamar Corporation (TSX:LNR) today announced that a wholly-owned subsidiary of Linamar has 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\n\n \n \n\n \nSAM, FVM and Alfisa are a part of Groupe Arche S.A., a French company specialized in the design, casting, and machining of high pressure die cast (HPDC) aluminum components for the automotive industry, specializing primarily in the range of 1,400 to 2,000 metric tonnes.  \n\nThe FVM and SAM facilities are located in Villers-la-Montagne and Viviez, France, respectively, and Alfisa is located in Barcelona, Spain. Total revenue is in the range of 100 million Euros with open casting capacity and floor space. Pursuant to the proposed Acquisitions, approximately 650 full-time employees and other temporary employees of FVM and SAM will be transferred to relevant Linamar subsidiaries.  \n\nThe Acquisitions, if completed, will represent a step forward in Linamar's Light Metal Casting strategy to develop further leadership in integrated design, casting, and machining of aluminum components in medium and medium-large press and component sizes.  This strategy will strengthen and grow Linamar's relationship with customers in Europe, with facility locations strategically located near key existing and potential customers and an excellent skilled workforce.  Linamar expects to finance the acquisition through existi...