Linamar Corporation

Linamar Corporation

December 21, 2006 16:00 ET

Linamar Corporation Announces the Resignation of Margaret Cornish

GUELPH, ONTARIO--(CCNMatthews - Dec. 21, 2006) - Linamar Corporation (TSX:LNR) announced today that one of its board members, Margaret Cornish, has resigned from the Board, effective immediately.

Ms. Cornish, President of the Canada China Business Council, cited her increased work commitments in the new year and the requirement to be present in China for greater periods of time.

"It has been a great honour to serve as a Linamar Board member," said Ms. Cornish. "I have found it a rewarding experience to work both with the other directors and with Linamar's outstanding management team."

Frank Hasenfratz, the Chairman of the Board of Linamar Corporation, commented that "Margaret's knowledge of China and the far East were of great value to us and we wish her all the best as she increases her activities in that area of the world."

Linamar designs, develops and manufactures precision machined components, modules and systems for engine, transmission and chassis systems primarily for the North American and European marketplace. The company's industrial division is a world leader in aerial lift platform products. The company has over 10,000 employees in 36 manufacturing locations, five research and development centers and nine 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; 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
    (519) 824-8479 (FAX)