GUELPH, ONTARIO, Sep. 21, 2009 (Marketwire) -- Linamar Corporation (TSX:LNR) and Prime Minister Harper today announced a partnership to invest in Linamar's Green & Fuel Efficient Powertrain Project. The investment will include the design & development of a wide range of Powertrain components related to new engines, transmissions and drivelines that will contribute to increases in fuel efficiency and reduced auto emissions. Linamar will work closely with its suppliers in the development of new products & technology and the design & development of advanced production processes to efficiently bring those products to market.
Linamar's spending commitment on this project is up to $365 million until March 31, 2013. The Federal Government, through the Automotive Innovation Fund, will provide assistance in the form of a repayable contribution for 15% of the total amount spent under the project.
"We are thrilled with this show of support from our Federal Government for our Green Technology investments," said Linamar CEO Linda Hasenfratz. "Investing in innovation, particularly when it is also aimed at creating products beneficial to our environment, is exactly what we need our governments to be focused on today."
Linamar Corporation (TSX:LNR) is a diversified global manufacturing company of highly engineered products. The company's Powertrain and Driveline focused divisions are world leaders in the collaborative design, development and manufacture of precision metallic components, modules and systems for global vehicle and power generation markets. The company's Industrial division is a world leader in the design and production of innovative mobile industrial equipment, notably its class-leading aerial work platforms and telehandlers. With more than 9,000 employees in 37 manufacturing locations, 5 R&D centers and 11 sales offices in Canada, US, Mexico, Germany, Hungary, UK, China, Korea and Japan, Linamar generated sales of over $2.2 Billion in 2008. For more information about Linamar Corporation and its industry leading products and services, visit www.linamar.com.