Linamar Announces Early Payment of Its Private Placement Notes
June 05 2009 - 12:07PM
Marketwired
Linamar (TSX: LNR) today announced that it has paid in full the
series A tranche of Private Placement Notes in the amount of US $80
million. These notes were to come due in October of 2009.
"We are very pleased to finalize the refinancing of these Notes
and in doing so take another step in the overall strengthening of
our balance sheet," said Linamar CEO Linda Hasenfratz, "early
redemption offers us improved financing costs and certainty around
the issue; most welcome in these uncertain times!"
Linamar Corporation (TSX: LNR) is a diversified global
manufacturing company of highly engineered products. The company's
Powertrain and Driveline focused divisions are world leaders in the
collaborative design, development and manufacture of precision
metallic components, modules and systems for global vehicle and
power generation markets. The company's Industrial division is a
world leader in the design and production of innovative mobile
industrial equipment, notably its class-leading aerial work
platforms and telehandlers. With more than 9,000 employees in 37
manufacturing locations, 5 R&D centers and 11 sales offices in
Canada, the US, Mexico, Germany, Hungary, the UK, China, Korea and
Japan Linamar generated sales of over $2.2 Billion in 2008. For
more information about Linamar Corporation and its industry leading
products and services, visit www.linamar.com.
Certain information regarding Linamar set forth in this
document, including management's assessment of the Company's future
plans and operations may constitute forward-looking statements.
This information is based on current expectations that are subject
to significant risks and uncertainties that are difficult to
predict. Actual results may differ materially from these
anticipated in the forward-looking statements due to factors such
as customer demand and timing of buying decisions, product mix,
competitive products and pricing pressure. In addition,
uncertainties and difficulties in domestic and foreign financial
markets and economies could adversely affect demand from customers.
These factors, as well as general economic and political
conditions, may in turn have a material adverse effect on the
Company's financial results. The Company assumes no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those reflected in the
forward-looking statements.
Contacts: Linamar Corporation Andrea Bowman (519) 836-7550 (519)
836-9175 (FAX) www.linamar.com
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