GUELPH, ON, Sept. 29, 2017 /CNW/ - On July 4, 2017, Linamar Corporation (TSX:LNR)
announced that a wholly-owned subsidiary of Linamar had filed
conditional offers with the Commercial Court in Paris to acquire selected assets of Societe
Aveyronnaise de Metallurgie S.A. ("SAM") and F.V.M. Technologies
S.A. ("FVM") from their respective bankruptcy estates and 100% of
the outstanding shares of Alfisa Technologies, S.L.U. (Alfisa) a
Spanish company for a total consideration of approximately
6 million Euros. (These
proposed transactions are collectively referred to as the "Offers"
or the "Acquisitions").
As a result of further due diligence and discussion with various
interested parties, Linamar is now not in a position to file final,
binding, unconditional Offers and has decided not to pursue these
Acquisitions.
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 segment, which are further divided into 5 operating
groups – Machining & Assembly, Light Metal Casting, Forging,
Skyjack and Agriculture, all world leaders in the design,
development and production of highly engineered products. The
Company's Machining & Assembly, Light Metal Casting and Forging
operating groups focus on precision metallic components, modules
and systems for engine, transmission, driveline and body systems
designed for global vehicle and industrial markets. The
Company's Skyjack and Agriculture operating groups are noted for
their innovative, high quality mobile industrial equipment, notably
its class-leading aerial work platforms, telehandlers and
agricultural equipment. With more than 25,600 employees in 59
manufacturing locations, 6 R&D centers and 21 sales offices in
17 countries in North and South
America, Europe and
Asia, Linamar generated sales of
$6.0 billion in 2016. For more
information about Linamar Corporation and its industry leading
products and services, visit www.linamar.com or follow us on
Twitter at @LinamarCorp.
Forward Looking Information, Risk and Uncertainties
Certain information provided by Linamar in this press release,
MD&A, the consolidated financial statements and other documents
published throughout the year which are not recitation of
historical facts may constitute forward-looking statements. The
words "may", "would", "could", "will", "likely", "estimate",
"believe", "expect", "plan", "forecast" and similar expressions are
intended to identify forward-looking statements. Readers are
cautioned that such statements are only predictions and the actual
events or results may differ materially. In evaluating such
forward-looking statements, readers should specifically consider
the various factors that could cause actual events or results to
differ materially from those indicated by such forward-looking
statements.
Such forward-looking information may involve important risks and
uncertainties that could materially alter results in the future
from those expressed or implied in any forward-looking statements
made by, or on behalf of, Linamar. Some of the factors and risks
and uncertainties that cause results to differ from current
expectations include, but are not limited to, changes in the
competitive environment in which Linamar operates, OEM outsourcing
and insourcing; sources and availability of raw materials; labour
markets and dependence on key personnel; dependence on certain
customers and product programs; technological change in the sectors
in which the Company operates and by Linamar's competitors; delays
in or operational issues with product launches; foreign currency
risk; long-term contracts that are not guaranteed; acquisition and
expansion risk; foreign business risk; cyclicality and seasonality;
capital and liquidity risk; legal proceedings and insurance
coverage; credit risk; emission standards; tax laws; securities
laws compliance and corporate governance standards; fluctuations in
interest rates; environmental emissions and safety regulations;
trade and labour disruptions; world political events; pricing
concessions to customers; and governmental, environmental and
regulatory policies.
The foregoing is not an exhaustive list of the factors that may
affect Linamar's forwarding looking statements. These and other
factors should be considered carefully and readers should not place
undue reliance on Linamar's forward-looking statements. Linamar
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.
SOURCE Linamar Corporation