Linamar Completes Acquisition of Dura-Shiloh's Battery Enclosures Business
Linamar Corporation (TSX: LNR) announced that it has completed its acquisition of three Dura-Shiloh’s Battery Enclosures facilities.
The acquisition was previously announced on May 30th and had been subject to customary regulatory approval and other closing conditions. Those pre-closing hurdles have now all been finalized, and the transaction was closed as of August 3rd. Each site manufactures advanced batteries enclosures for Battery Electric Vehicle (BEV) applications.
The three sites, previously owned by Dura-Shiloh are located in North Macedonia, Czechia, and Alabama, USA and now join the newly formed Linamar Structures Operating Group.
Linda Hasenfratz, Linamar Executive Chair and CEO commented “We are excited to complete this acquisition, a further step forward in Linamar’s transition towards an Electrified Mobility world, bolstering our growing Structures & Chassis business portfolio.”
Linamar management will provide further insights into the strategic rationale and details of the transaction during its Q2 2023 Earnings Conference Call on Wednesday, August 9th.
