TSX : LNR
June 05, 2007 09:14 ET
Linamar Secures Location for Technology and Training Centre
GUELPH, ONTARIO--(Marketwire - June 5, 2007) - Linamar Corporation (TSX:LNR) today announced it has secured a site for its new technology and training centre in Guelph. Linamar purchased the property at 700 Woodlawn Road West from Engel Canada Inc. The centre will concentrate on process and product innovation as well as people development.
Linamar purchased the 10 acre site and existing 30,000+ square foot building for its new technology and training centre. The company plans to re-configure the interior and build an addition onto the facility over the next 12 months.
Linamar partnered with the Ontario government on a five-year research and development strategy announced May 2006. The technology and training centre is one of a variety of training and R&D focused investments resulting from Linamar's $1.1 billion commitment to invest in people development and innovation. Provincial support of $44.5 million was provided through the Ontario Automotive Investment Strategy.
"We're thrilled to have a location for our technology and training centre in Guelph and within close proximity to a number of our plants," said Linda Hasenfratz, Linamar CEO. "This facility is critical to Linamar's future growth and will become a Centre of Excellence for technology and training at Linamar."
"This type of investment in advanced skills training and innovation is essential to the long-term competitiveness of Ontario's auto industry," said Sandra Pupatello, Minister of Economic Development and Trade. "Today's announcement further illustrates how the government's auto strategy is working to build a strong and sustainable auto sector, while helping to protect industry jobs."
The technology and training centre allows Linamar to focus on advanced tooling, fixture and gauging analysis and development, introduce an advanced automation development group, and conduct product testing and R&D. Linamar's employee training will be enhanced with the addition of a machine tool innovation program, a supplier development centre, enhanced apprenticeship and technical skills training, as well as leadership development.
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 36 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 www.linamar.com.