GUELPH,
ON, April 11, 2022 /CNW/ - Linamar Corporation
(TSX: LNR) today released insights regarding the market activity
observed during Q1 2022, 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
Mobility markets in which it operates.
Highlights:
- In the Mobility segment:
-
- Q1 global light vehicle production forecast decreased by
460,000 units in line with expectations. 2022 full-year forecast
revised down by 2.6M units.
- Forecast production downgrade primarily concentrated in
Europe. North America and Asia Pacific relatively unchanged.
- The forecast downgrades are a direct result of the Russian
invasion of Ukraine
- In the Industrial segment:
Agriculture
- North America combine retails
down 27% Feb. YTD, driven primarily by supply side
constraints.
- Supply chain disruptions continue to impact our ability to meet
market demand.
- Agricultural commodity prices and farm incomes continue to
grow, driving demand.
Access Market
-
- AWP global market up 68% versus prior year.
- Supply chain disruptions continue to impact our ability to meet
market demand.
- In supply chains:
-
- Significant supply chain constraints are impacting our ability
to ship to meet market demand as well as margins in terms of higher
materials, commodity, energy, and logistics costs.
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
https://www.linamar.com/wp-content/uploads/2022/04/Q1-2022-Mid-Quarter-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, 11
R&D centres and 25 sales offices in 17 countries in North and
South America, Europe and Asia, which generated sales of $6.5 billion in 2021. For more information about
Linamar Corporation and its industry-leading products and services,
visit www.linamar.com or follow us on our social media
channels.
SOURCE Linamar Corporation