Linamar Corporation

Linamar Corporation

August 15, 2007 13:02 ET

Linamar Announces the Signing of a Purchase Agreement by Skyjack Inc., a Linamar Company, for CareLift Equipment Limited

GUELPH, ONTARIO--(Marketwire - Aug. 15, 2007) - Skyjack Inc., a Linamar Company (TSX:LNR), today announced the signing of a Share Purchase Agreement regarding the purchase, by Skyjack, of CareLift Equipment Limited, a manufacturer of telehandlers located in Breslau, Ontario Canada.

Skyjack is interested in the CareLift business as it complements the mobile industrial products business of scissor and boom lifts already produced by the company. This acquisition further expands Skyjack's product offering and distinguishes Skyjack as a full line supplier to the equipment rental business.

"The addition of CareLift's telehandler business along with the design and test abilities of the company opens up another large market for our Skyjack business," said Linda Hasenfratz, Linamar Corporation CEO. "The global telehandler market is worth $3 billion and growing. CareLift's popular ZoomBoom brand is well positioned to increase market share by utilizing Skyjack's well established distribution network."

CareLift designs and builds durable, dependable rough terrain forklifts. Their telehandler product has advanced reach and can reach heights from 32 to 56 feet. Additionally, CareLift products are well regarded in the industry for high quality and reliability, which aligns with Skyjack's existing product design principles.

The proposed transaction is subject to, among other things, further due diligence.

Linamar will hold a conference call on August 15, 2007 at 4:00 pm. EST to discuss this announcement. The numbers for this call are (416) 642-5213 (local/overseas) or (866) 321-8231 (North America), with a call-in required 10 minutes prior to the start of the conference call. The conference call will be chaired by Linda Hasenfratz, Linamar's Chief Executive Officer. A taped replay of the conference call will also be made available until 11:00 p.m. on August 21, 2007. The number for replay is (416) 915-1028 or (866) 244-4494, Conference ID 719002.

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

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 regulatory review of the Corporation's offer for Linamar Hungary shares described above, the trading price of Linamar Hungary shares, the number of Linamar Hungary shares tendered to the Corporation's offer, the satisfaction of the closing conditions under the Corporation's offer, 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