Linamar Corporation
TSX : LNR

Linamar Corporation

June 05, 2009 12:06 ET

Linamar Announces Early Payment of Its Private Placement Notes

GUELPH, ONTARIO--(Marketwire - June 5, 2009) - Linamar (TSX:LNR) today announced that it has paid in full the series A tranche of Private Placement Notes in the amount of US $80 million. These notes were to come due in October of 2009.

"We are very pleased to finalize the refinancing of these Notes and in doing so take another step in the overall strengthening of our balance sheet," said Linamar CEO Linda Hasenfratz, "early redemption offers us improved financing costs and certainty around the issue; most welcome in these uncertain times!"

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 9,000 employees in 37 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 over $2.2 Billion in 2008. 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
    (519) 836-7550
    (519) 836-9175 (FAX)
    www.linamar.com