Linamar acquires all of casting joint venture
01 April 2022
Linamar Corp. announced an agreement with GF Casting Solutions (GF) to acquire GF’s 50% interest in joint venture company GF Linamar LLC. Financial details were not disclosed.
GF Casting Solutions, a division of Georg Fischer AG, and Linamar originally formed the joint venture in 2015. Linamar will assume 100% ownership and operational control of the business. The agreement has been executed and given there are no pre-closing steps or required regulatory approvals, the transaction was expected to close April 1.
The GF Linamar joint venture combined expertise in high pressure die casting and machining to provide lightweight solutions for automotive and commercial vehicle customers. GFL manufactures structural and powertrain components in aluminum and magnesium.
“We are very pleased to complete this transaction with GF,” said Linda Hasenfratz, Linamar’s executive chair and CEO. “GF has been an excellent strategic partner; however, we view this ownership change as key to securing our long-term growth plan in Lightweight Structural Castings.
“Increasing our Structural content per vehicle is a key strategic priority for Linamar in reducing our business concentration in vehicle powertrains and increasing our content in electrified vehicles where lightweighting is so critical. Acquiring full control over this facility will enable us to be more agile and pursue further market opportunities.”
In the interim, GF will continue to support Linamar and the customer’s requirements throughout this transitionary phase, Linamar said.
Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.
POWER SOURCING GUIDE
The trusted reference and buyer’s guide for 83 years
The original “desktop search engine,” guiding nearly 10,000 users in more than 90 countries it is the primary reference for specifications and details on all the components that go into engine systems.