GUELPH, ON, Oct. 6, 2021 /CNW/ - Linamar Corporation (TSX:
LNR) today released insights regarding the market activity observed
during Q3 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:
-
- Q3 global light vehicle production forecast decreased by
3.0M units vs. prior forecast.
2021 full-year forecast revised down by 6.2M units.
- The volume reductions were primarily due to the ongoing global
semiconductor shortage which remains a fluid and unpredictable
situation.
- In the Industrial segment:
-
- Agriculture's August QTD (two months)* North American combine
retails are up 26%.
- Access August QTD (two months)* North American market is up
63%.
*Note: Market data reports only published up to August 2021 at time of this release. Q3 QTD
includes July and August 2021
data.
- In supply chains:
-
- Ongoing supply chain constraints continue to impact each of
Linamar's businesses' ability to meet the otherwise strong market
demand, as well as costs in terms of both commodities and logistics
pricing.
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 File
Directory, or directly through the following link:
http://www.linamar.com/wp-content/uploads/2021/10/Q3-2021-Market-Update.pdf
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. In addition to the recently formed eLIN Product Solutions
Group that focuses on Electrification, 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.
SOURCE Linamar Corporation