GUELPH, ON, July 9, 2021 /CNW/ - Linamar Corporation
(TSX: LNR) today released insights regarding the market activity
observed during Q2 2021, as well as commented on other recent
industry developments. The comments provide updates on the
latest available industry conditions in the key Access, Agriculture
and Automotive markets in which it operates.
Highlights:
- In the Mobility segment:
-
- Q2 global light vehicle production forecast decreased by
1.65M units vs. prior forecast, the
majority of the decline being in NA. 2021 forecast revised
down by 1.01M units.
- The volume reductions were primarily due to the ongoing global
semiconductor chip shortage.
- In the Industrial segment;
-
- Agriculture's May QTD North American combine retails are up
18%.
- Access May Q2 QTD (two months) Global market up 2.5x prior
year, driven primarily by Asia.
- Both businesses constrained in ability to meet market demand
due to supply chain issues
- In Supply Chains;
-
- Supply chain commodity prices, logistic costs and product
availability are impacting both revenue and margins negatively,
primarily impacting the industrial segment.
A presentation deck highlighting the details is available and
has been posted to Linamar's website today at
www.linamar.com/investors under the section titled Reports,
Presentations and Public Filings, or directly through the following
link here .
Linamar Corporation (TSX:LNR) is an advanced manufacturing
company where the intersection of leading edge technology and deep
manufacturing expertise is creating solutions that power vehicles,
motion, work and lives for the future. The Company is made up of
two operating segments – the Industrial segment and the Mobility
segment, both global leaders in manufacturing solutions and
worldclass developers of highly engineered products. The Industrial
segment is comprised of Skyjack and MacDon. Skyjack manufactures
scissor, boom and telehandler lifts for the aerial work platform
industry. MacDon manufactures combine draper headers and
self-propelled windrowers for the agricultural harvesting industry.
The Mobility segment is subdivided into three regional
groups; North America,
Europe and Asia Pacific. Within the Mobility segment, the
regional groups are vertically integrated operations combining
expertise in light metal casting, forging, machining and assembly
for both the global electrified and traditionally powered vehicle
markets. The Mobility segment products are focused on both
components and systems for new energy powertrains, body and
chassis, driveline, engine and transmission systems of these
vehicles. McLaren Engineering provides design, development, and
testing services for the Mobility segment. Linamar has 26,000
employees in 61 manufacturing locations, 12 R&D centres and 25
sales offices in 17 countries in North and South America, Europe and Asia which generated sales of $7.4 billion in 2019. For more information about
Linamar Corporation and its industry leading products and services,
visit www.linamar.com or follow us on Twitter at @LinamarCorp.
SOURCE Linamar Corporation