GUELPH, ON, Aug. 11, 2021 /CNW/ - Linamar Corporation
(TSX: LNR) today announced that it has entered into an exclusive
Global Manufacturing Agreement with Netherlands based Innovative Mechatronic
Systems B.V. (IMSystems) to bring the Archimedes Drive transmission
system to market, a promising technology that offers a major
innovation in the Industrial Robotics & Automation
sector. As part of the agreement, Linamar commits to be the
manufacturing source for the system once the design is proven and
production requires scale up. Concurrently with this agreement,
Linamar also announced a minority equity investment in IMSystems,
as part of a Series A consortium which raised €3 million Euros.
Terms of the investment were not disclosed.
Today's announcement is another demonstration of Linamar's
innovation outreach strategy, bringing significant value to an
innovative early-stage company for mutual growth. The deal
leverages Linamar's manufacturing expertise, infrastructure, design
for manufacturing capabilities, and supply chain management
expertise to allow for rapid commercialization of the Archimedes
Drive transmission. Further, the transaction allows Linamar to
participate as both a shareholder and manufacturer in the rapidly
growing startup.
The Archimedes Drive system is comprised of an assembly module
that uses frictional contact instead of gear teeth to transmit
torque, resulting in a more efficient and precise gearbox. With a
product that is more accurate, robust, efficient, and scalable than
competing technologies, the IMSystems team aims to create a
revolution for the robotics industry.
"I am very pleased to announce this manufacturing agreement and
investment with IMSystems," said Linda
Hasenfratz, Linamar's CEO. "This strategic partnership is
another great step for us into the opportunistic industrial
robotics market, given the growing global trend of industrial
automation and the ongoing demand for better, more accurate robotic
systems. IMSystems is truly a leader in this area, disrupting a
technology that has not seen significant innovation or improvement
in decades."
"We are very excited about the interest we have been able to
attract from key stakeholders that will ensure IMSystems' long-term
success," said IMSystems' CEO Jack
Schorsch. "We have brought together a consortium of
investors and now a manufacturing partner in Linamar that will
significantly contribute to a successful
commercialization."
IMSystems' existing shareholders included ABB Technology
Ventures and InnovationQuarter (IQ), a regional economic
development agency for the greater Rotterdam - The
Hague area in the
Netherlands. This latest Series A Investment brings Linamar
and Finindus, a Belgium based
early stage and growth investment company into the
consortium.
Schorsch continues, "With the addition of Linamar & their
ability to manufacture high-quality, high-performance parts &
getting access to the world class metal experts at OCAS (Belgium
Research Centre for the use of Steel) through Finindus, we have a
competitive advantage that is hard to replicate."
The robotics transmission industry has long been dominated by
just a few highly respected and well understood technologies
supplied by just a handful of dedicated manufacturers. IMSystems
believes that in order for the industry to grow, new fundamental
drive technology must be introduced to advance the existing
solutions that have not changed in nearly 50 years.
IMSystems has grown out of the Innovation Hub of Delft
University of Technology and is based in Delft, The Netherlands. IMSystems was founded in 2016
and has previously raised pre-seed capital from UNIIQ, TU Delft and
several angel investors, after which InnovationQuarter, Lucros and
ABB Technology Ventures provided seed funding in 2018 and 2019.
IMSystems develops, produces, and markets the patented Archimedes
Drive, a new standard in high-performance gearbox technology.
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 world-class 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 60 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.
Guelph, Ontario
August 11, 2021
Forward Looking Information, Risk and Uncertainties
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Company's future plans and operations may constitute forward
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Please also refer to Linamar's most current Management's Discussion
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could cause actual events to differ materially from these indicated
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SOURCE Linamar Corporation