Linamar Corporation Receives Funding From the Federal Government
September 21 2009 - 4:48PM
Marketwired
Linamar Corporation (TSX: LNR) and Prime Minister Harper today
announced a partnership to invest in Linamar's Green & Fuel
Efficient Powertrain Project. The investment will include the
design & development of a wide range of Powertrain components
related to new engines, transmissions and drivelines that will
contribute to increases in fuel efficiency and reduced auto
emissions. Linamar will work closely with its suppliers in the
development of new products & technology and the design &
development of advanced production processes to efficiently bring
those products to market.
Linamar's spending commitment on this project is up to $365
million until March 31, 2013. The Federal Government, through the
Automotive Innovation Fund, will provide assistance in the form of
a repayable contribution for 15% of the total amount spent under
the project.
"We are thrilled with this show of support from our Federal
Government for our Green Technology investments," said Linamar CEO
Linda Hasenfratz. "Investing in innovation, particularly when it is
also aimed at creating products beneficial to our environment, is
exactly what we need our governments to be focused on today."
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, US, Mexico, Germany, Hungary, 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.
Contacts: Linamar Corporation Andrea Bowman Media & Investor
Relations 519.836.7550 ext. 2007 519 824 8479 (FAX)
andrea.bowman@linamar.com www.linamar.com
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