By Robb M. Stewart
Linamar is buying manufacturing operations for propulsion-agnostic chassis and suspension modules and components for $70 million in cash.
The manufacturing company said Thursday it has reached a definitive agreement with Mobex Fourth & 1 and certain affiliates to buy a substantial portion of its U.S.-based assets. The deal is subject to regulatory and other approvals and is set to close in the final quarter of the year.
Linamar said the Mobex facilities will be integrated into its structures division, and will bolster its position as a supplier of propulsion-agnostic solutions.
“The addition of the sales from this business takes our EV and propulsion-agnostic business to nearly 60% of our total Mobility sales in just a couple of years,” said Linamar President and Chief Operating Officer Jim Jarrell.
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