Linamar Corporation

Linamar Corporation

October 24, 2007 09:55 ET

Linamar Celebrated With its Third Award This Month

- Linamar Corporation Honoured with Ontario Chamber of Commerce 2007 Outstanding Business Achievement Award for Business Excellence

GUELPH, ONTARIO--(Marketwire - Oct. 24, 2007) - Linamar Corporation (TSX:LNR) was honoured last night at the Ontario Chamber of Commerce (OCC) awards gala in Toronto with a 2007 Outstanding Business Achievement Award (OBAA) in the large business category.

Linamar was nominated by the Guelph Chamber of Commerce (GCC) for the OCC Outstanding Business Achievement Award for Business Excellence. The GCC's successful nomination highlighted Linamar's strength in a turbulent market and unmatched growth attributed to a focus on innovation and new technology.

"Linamar has met industry challenges head on with a strategy, to innovate, diversify and invest in our people. With the recognition we have received this year from the Ontario Chamber of Commerce and Canadian Manufacturers and Exporters it's obvious our strategy is working," said Linda Hasenfratz, Linamar Corporation CEO. "Linamar is thrilled to be the winner of an Outstanding Business Achievement Award for Business Excellence."

The Ontario Chamber of Commerce awards gala was held at the Toronto Metro Convention Centre and celebrated Ontario businesses large and small for their successful business practices and significant achievements in 2007. Linamar President and Chief Operating Officer, Jim Jarrell accepted the OBAA Business Excellence award on Linamar's behalf.

Ontario companies, who are the recipients of an Outstanding Business Achievement Award, are judged by a broad set of criteria. The achievements the OCC identifies when selecting winning companies include: sales and export growth, increased employment, product innovation, community initiatives, technological advancements, and general entrepreneurial skill.

This most recent award from the Ontario Chamber of Commerce comes on the heels of Linamar's Canadian Manufacturers and Exporters 'Manufacturer of the Year' Innovation Award, received Monday night in St. John's Newfoundland and Labrador. Earlier this month, Linamar founder, Frank Hasenfratz, was inducted into the Canadian Manufacturers Hall of Fame for his significant contributions to the Canadian manufacturing.

Linamar Corporation (TSX:LNR) is a diversified global manufacturing company of highly engineered products. The company's Powertrain and Driveline focused divisions are world leaders in the collaborative design, development and manufacture of precision metallic components, modules and systems for global vehicle markets. The company's Industrial division is a world leader in the design and production of innovative mobile industrial products, notably its class-leading aerial work platforms. With close to 11,000 employees in 37 manufacturing locations, 5 R&D centers and 9 sales offices in Canada, the US, Mexico, Germany, Hungary, China, Korea and Japan Linamar generated sales of close to $2.3 Billion in 2006. For more information about Linamar Corporation and its industry leading products and services, visit

Certain information regarding Linamar set forth in this document, including management's assessment of the Company's future plans and operations may constitute forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from these anticipated in the forward-looking statements due to factors such as customer demand and timing of buying decisions; product mix; competitive products; the cost, timing and effectiveness of cost reduction initiatives; and pricing pressure. In addition, uncertainties and difficulties in domestic and foreign financial markets and economies could adversely affect demand from customers. These factors, as well as general market, economic and political conditions, may in turn have a material adverse effect on the Company's financial results. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

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