Linamar Corporation

Linamar Corporation

August 12, 2005 08:00 ET

Linamar Corporation Announces The Resignation Of Its CFO

GUELPH, ONTARIO--(CCNMatthews - Aug. 12, 2005) - Linamar Corporation (TSX:LNR) announces today that its Chief Financial Officer, Mr. Keith Wettlaufer, has resigned his position from the Company, effective September 9, 2005.

"We're sorry to see Keith go, he has been a valuable member of our Senior Executive Team," said Linda Hasenfratz, the Company's Chief Executive Officer. "Keith has built a very strong financial team here at Linamar, making us confident in a smooth transition until such time as our new Chief Financial Officer is appointed."

Linamar designs, develops and manufactures precision machined components, modules and systems for engine, transmission and chassis systems primarily for the North American and European automotive marketplace. The company's industrial division is a world leader in aerial lift platform products. The company has nearly 10,000 employees in 37 manufacturing locations, four research and development centers and ten sales offices in Canada, United States, Mexico, Germany, Hungary, China, Korea and Japan.

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
    Linda Hasenfratz
    Chief Executive Officer
    (519) 836-7550
    (519) 836-9175 (FAX)