GUELPH,
ON, Oct. 11, 2022 /CNW/ - Linamar Corporation
(TSX: LNR) today released insights regarding the market activity
observed during Q3 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. The commentary on the
following slides is an update to the Q3 market outlook which was
shared during our Q2 Earnings Call on August
10, 2022.
Highlights:
- In the Mobility segment:
-
- Q3 global light vehicle production forecast down meaningfully
in Europe vs. prior
expectation.
- Input costs such as Labour, Raw Materials and especially
European Energy have continued to escalate.
- In the Industrial segment:
Agriculture
- Q3 QTD combine retails expected to be softer than
anticipated
Access Market
- Supply chain constraints continue to impact ability to meet
demand
- AWP global market up 15% Q3 QTD (2 months through August).
- Supply Chain
-
- Continuing to see escalation of costs in Energy, Labour and
Purchased Components
- Supply chain constraints have shown some improvement, however
still impacting ability to meet market demand
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/2022/10/Q3-2022-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, 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's recently
announced medical solutions group, Linamar MedTech, focuses on
manufacturing solutions for Medical Devices and Precision Medical
Components. Linamar has 27,140 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.
SOURCE Linamar Corporation