Linamar Corporation

Linamar Corporation

December 20, 2010 11:43 ET

Linamar Announces Adoption of Majority Voting Policy

GUELPH, ONTARIO--(Marketwire - Dec. 20, 2010) - Linamar Corporation (TSX:LNR) ("Linamar" or the "Corporation") announces that its Board of Directors (the "Board") has adopted a majority voting policy with respect to the election of directors in uncontested elections. In the instance of a nominee receiving more "withheld" than "for" votes, the Human Resources Corporate Governance Committee will consider whether to ask the nominee who has more "withheld" than "for" votes to resign, make a recommendation to the Board, and the board will determine the action to take. This policy will come into effect at the next Annual General Shareholders meeting in May of 2011.

Linda Hasenfratz, Linamar's Chief Executive Officer, stated that "assessing key shareholder concerns is part of our Board's continuous review and improvement process. Clearly majority voting is an aspect of governance that is important to our shareholders. We always strive to achieve a good balance of customer, employee and shareholder satisfaction at Linamar and feel this move will achieve just that."

Linamar Corporation (TSX:LNR) is a diversified global manufacturing company of highly engineered products powering vehicles, motion, work and lives. 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 and power generation markets. The company's Industrial division is a world leader in the design and production of innovative mobile industrial equipment, notably its class-leading aerial work platforms and telehandlers. With more than 11,100 employees in 38 manufacturing locations, 5 R&D centers and 11 sales offices in Canada, the US, Mexico, Germany, Hungary, the UK, China, Korea and Japan, Linamar generated sales of close to $1.7 Billion in 2009. 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.

Contact Information

  • Linamar Corporation
    Linda Hasenfratz
    (519) 836-7550