GUELPH, ON, April 24, 2013 /CNW/ - Linamar Corporation
(TSX:LNR) ("Linamar") announced today that it has amended and
restated its revolving credit facility to take advantage of current
market pricing and to extend the facility a further three years.
The new agreement will expire on April 23,
2018. The facility size remains unchanged at
$700 million and there were no
changes to financial covenants.
Linda Hasenfratz,
Linamar's CEO, stated that "We are very pleased to early renew the
facility both to lock in financing through 2018 and also to allow
us to enjoy immediate cost savings. Stable and low cost financing
is the foundation of a successful business."
Linamar Corporation (TSX:LNR) is a diversified
global manufacturing Company of highly engineered products powering
vehicles, motion, work and lives. The Company is made up of 2
operating segments - the Powertrain/Driveline segment and the
Industrial segments which are further divided into 4 key divisions
- Manufacturing, Driveline, Industrial Commercial Energy ("ICE")
and Skyjack, all world leaders in the design, development and
production of highly engineered products. The Company's
Manufacturing and Driveline divisions focus on precision metallic
components, modules and systems for engine, transmission and
driveline systems designed for passenger vehicle markets. The ICE
group concentrates on similar products for on and off highway
vehicle, energy and other industrial markets. The Company's Skyjack
division is noted for its innovative, high quality mobile
industrial equipment, notably its class-leading aerial work
platforms and telehandlers. With more than 17,200 employees in 40
manufacturing locations, 5 R&D centers and 15 sales offices in
12 countries in North America,
Europe and Asia, Linamar generated sales of more than
$3.22 Billion in 2012. For more
information about Linamar Corporation and its industry leading
products and services, visit www.linamar.com.
SOURCE Linamar Corporation