GUELPH,
ON, June 22, 2023 /CNW/ - Linamar Corporation
(TSX: LNR) announced today that it has executed and closed a note
purchase agreement pursuant to which it sold CAD $550,000,000 aggregate principal amount of 5.96%
senior unsecured notes due June 30,
2033 to certain institutional accredited investors (the
"Notes") by way of a private placement. Linamar intends to use the
proceeds of the sale of the Notes for general corporate purposes,
including to fund the previously announced purchase of
Dura-Shiloh's battery enclosures business.
The Notes have not been, and will not be, registered under the
U.S. Securities Act of 1933 (as amended, the "U.S. Securities
Act"), or any state securities laws. Accordingly, the Notes may not
be offered or sold within the United
States unless registered under the U.S. Securities Act and
applicable state securities laws or pursuant to exemptions from the
registration requirements of the U.S. Securities Act and applicable
state securities laws. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of the Notes in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
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 of Skyjack, MacDon and Salford. Skyjack manufactures scissor, boom
and telehandler lifts for the aerial work platform industry. MacDon
manufactures combine draper headers and self-propelled windrowers
for the agricultural harvesting industry. Salford also supplies the agriculture market
with farm tillage and crop fertilizer applicator equipment. The
Mobility segment is subdivided into three regional groups:
North America, Europe and Asia
Pacific. Within the Mobility segment, the regional groups
are vertically integrated operations combining expertise in light
metal casting, forging, machining and assembly for both the global
electrified and traditionally powered vehicle markets. The Mobility
segment products are focused on both components and systems for new
energy powertrains, body and chassis, driveline, engine and
transmission systems of these vehicles. In addition to the recently
formed eLIN Product Solutions Group that focuses on
Electrification, McLaren Engineering provides design, development,
and testing services for the Mobility segment. Linamar's recently
announced medical solutions group, Linamar MedTech, focuses on
manufacturing solutions for medical devices and precision medical
components. Linamar has over 28,000 employees in 66 manufacturing
locations, 14 R&D centres and 28 sales offices in 17 countries
in North and South America,
Europe and Asia, which generated sales of more than
$7.9 billion in 2022. For more
information about Linamar Corporation and its industry-leading
products and services, visit www.linamar.com or follow us on our
social media channels.
SOURCE Linamar Corporation