Linamar Corporation Announces the Closure of Invar Manufacturing Corporation
December 03 2009 - 11:24AM
Marketwired
Linamar Corporation ("Linamar")(TSX: LNR) today announced the
closure of Invar Manufacturing Corporation, located in Batawa
Ontario. Invar currently employs 134 active employees and will work
through an orderly wind down of operation over the next few months.
"Unfortunately, despite the efforts of all involved, Invar
Manufacturing Corporation is not a competitive option for Linamar,"
said Jim Jarrell, President & COO. "We regret the personal
impact that this will have on employees and their families and
sincerely appreciate their cooperation during the orderly wind down
of operations."
The closure does not affect Linamar's other Ontario facilities
where new business continues to be won and production levels are
rising.
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 andrea.bowman@linamar.com
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