Linamar Corporation
TSX : LNR

Linamar Corporation

April 28, 2008 15:18 ET

Linamar Announces Contract in Solar Energy Sector

GUELPH, ONTARIO--(Marketwire - April 28, 2008) - Linamar Corporation (TSX:LNR) is pleased to announce the signing of a Letter of Intent with Stirling Energy Systems ("SES") to develop and produce Power Conversion Units (PCU) for use with SES's Sun Catcher solar dish system.

The PCU utilizes external combustion engine technology to convert solar thermal energy gathered in large solar dishes into energy for input into the power grid in a highly efficient manner.

"Linamar has a long history in power generation and transmission products and we are excited about this latest venture into an entirely new market," said Linamar CEO Linda Hasenfratz. "This development and supply contract with SES allows us to further diversify our product and market portfolio through related technology and also tap into the growing market for Green Technologies".

Linamar anticipates annual revenue of more than $100 million per year from this multi year agreement. Production is expected to start in the 2010/2011 timeframe.

The production location for the PCU has not yet been finalized.

Linamar Corporation

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 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 12,000 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 over $2.3 Billion in 2007. For more information about Linamar Corporation and its industry leading products and services, visit www.linamar.com.

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 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 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
    Andrea Bowman
    Investor Relations
    (519) 836-7550
    Website: www.linamar.com