Linamar to Acquire Propulsion-Agnostic Business from Mobex
By Plant Staff
Business Operations Automotive
Linamar Corporation through its subsidiary Linamar Structures USA (Michigan), Inc. has reached a definitive agreement with Mobex Fourth and 1, LLC, to acquire a portion of its US-based assets.
“We are very pleased to announce this acquisition, the latest step in building our revenue profile for non-ICE dependent products in alignment with our overall Mobility Structures and Chassis strategy.,” said Linda Hasenfratz, executive chair and CEO, Linamar. “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, a great way for us to stay flexible in a shifting marketplace.”
Linamar Structures will acquire assets that consist of manufacturing operations for propulsion-agnostic chassis and suspension modules and components, including steering knuckles, control arms and subframes. The Mobex facilities will be integrated into Linamar.
“We are excited about this latest business acquisition and the capabilities it gives us for growing our Structures and Chassis business”, said Jim Jarrell, president and COO, Linamar. “We look forward to working with our OEM customers to help fill their growing needs for high quality, technologically advanced Structural components.”
The transaction is subject to customary consents and regulatory approvals and is expected to close in mid-Q4 2023.
