LIMAF - Linamar to buy Dura-Shiloh's Battery Enclosures business in $325M deal

2023-05-30 16:31:54 ET

Linamar ( OTCPK:LIMAF ) said Tuesday it agreed to acquire Dura-Shiloh's Battery Enclosures business for $325M in cash, a deal the company said would accelerate its strategy towards a more electrified product portfolio with increased future battery electric vehicle content potential.

The deal includes three factory locations in Alabama, Czechia and North Macedonia, which manufacture advanced battery enclosures for BEV applications.

Linamar ( OTCPK:LIMAF ) said it has several battery tray and enclosures programs in production both in North America and Europe, and the acquisition of Dura Shiloh's battery encloures business will bring multi-material (high strength steel and composite) designs with precision bonding into the product range.

The company said the newest facility in Muscle Shoals, Alabama, is a state of the art premiere battery enclosures operation.

Linamar ( OTCPK:LIMAF ) recently reported Q1 adjusted earnings of $1.98/share on revenues of $2.29B .

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