GUELPH,
ON, June 3, 2022 /CNW/ - Linamar Corporation
(TSX: LNR) today announced that it has completed its acquisition of
the Salford group of companies
(the "Salford Group"), a global leader in crop nutrition
application and tillage products. The acquisition is an important
milestone in the expansion of Linamar Agriculture's portfolio.
"We are very pleased to complete this acquisition," said
Linda Hasenfratz, Linamar's
Executive Chair and CEO. "Salford
is an outstanding brand in farm tillage and crop nutrition.
Together with our current ag division, MacDon, we have a solid
foundation from which to execute our agriculture strategy going
forward. We are thrilled to welcome the Salford Group into the
Linamar family today."
Salford Group, founded in 1978 is headquartered in Salford, Ontario with three manufacturing
locations in Canada and two
manufacturing locations in the United
States. The Salford product
lineup includes both pneumatic and spinner type fertilizer
spreaders, cover crop seeders, and a range of tillage equipment.
Salford's products are engineered
and built to be durable, innovative, and complementary to mainline
OEM products with distinct performance advantages related to higher
productivity, greater efficiency and environmental sustainability.
The company has been able to leverage technological developments in
precision agriculture to allow producers to manage their crop
production with an ever increasing degree of accuracy.
Linamar used funds available through its existing credit
facilities to complete this transaction.
For more information on Salford's lineup of agriculture equipment
offerings, visit their website at salfordgroup.com
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, MacDon and Salford. 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. Salford also supplies the agriculture market
with farm tillage and crop fertilizer applicator equipment. 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 26,550
employees in 65 manufacturing locations, 14 R&D centres and 28
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.
Salford Group is a global leader in manufacturing tillage and
precision application equipment. Salford is dedicated to improving agricultural
productivity and profitability through innovation and advancements
in precision, durability, versatility. Salford Group's products
include the patented I-Series and HALO tillage product lines.
Salford's AerWay division brings
quality tillage and pasture aeration equipment. The BBI Spreader
and Valmar divisions of Salford
bring decades of patented dry application innovations. Salford engineers and manufactures its highly
productive agricultural equipment from its facilities in
Iowa, Georgia, Ontario, and Manitoba. For more information, visit our
website at www.salfordgroup.com or visit its social media
channels.
SOURCE Linamar Corporation