Linamar Announces the Creation of Linamar MedTech, a New Group Focused on Medical Devices and Precision Medical Components

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GUELPH, ON, May 19, 2022 /CNW/ – Linamar Company (TSX: LNR) today announced the formation of Linamar MedTech, a new medical manufacturing group that will focus on leveraging its precision manufacturing expertise to seize opportunities in the medical device and precision medical components.

Linamar Corporation logo (CNW Group/Linamar Corporation)

Linamar MedTech will further fuel growth and diversification in line with the company’s 2100 strategy. This demonstrates Linamar’s commitment and confidence in future opportunities within the medical device industry. The announcement builds on the medical device programs the company has launched over the past few years, including complete ventilator systems and ventilator parts, as part of the critically critical accelerated launch effort in response. to the public health crisis created by the COVID-19 pandemic. Linamar has also successfully launched other medical device programs in automated robotic microscopy.

“Linamar has expertise and resources that apply beyond the markets in which it operates today, as we have proven with previous diversification initiatives,” said Linda Hasenfratz, Executive Chairman and CEO of Linamar. “This announcement formalizes the creation of Linamar MedTech, a new group with a team dedicated to seeking business opportunities in the field of medical devices and precision medical components. With a growing and aging population, the market for medical devices and precision components is growing rapidly. is an exciting new area of ​​growth for Linamar, and one in which we have already proven that we can excel. »

Linamar’s quality management system has been shown to meet the industry standards required for medical devices. Using Linamar’s global operating structure and manufacturing footprint, Linamar plans to manufacture precision medical components and complex medical device assemblies for the global medical market. Targeted potential products include surgical, respiratory and imaging devices and precision components for appliances, orthopedics and prosthetics.

“Linamar has demonstrated that we can supply this market with high quality products at competitive prices,” said jim jarrel, President and COO of Linamar. “Medical devices and precision medical components is a market where we see we can add immediate value by leveraging our scale and capabilities to bring innovative, high-quality and cost-effective solutions to customers. The capabilities of Linamar’s manufacturing, supply chain and program management capabilities can be leveraged to provide medical device OEMs with advanced contract manufacturing solutions for better products at a better price. of innovation and lean manufacturing principles bodes well for a strong future for Linamar MedTech to deliver value to our customers and stakeholders.

For more information on Linamar MedTech products or services, please email: [email protected]

Forward-looking information, risks and uncertainties

Certain information regarding Linamar presented in this document and the oral summary, including management’s assessment of the Company’s future plans and operations, may constitute forward-looking statements. This information is based on current expectations which are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from those anticipated in the forward-looking statements due to factors such as customer demand and the timing of purchasing decisions, product mix, competing products and pricing pressure. In addition, uncertainties and difficulties in domestic and foreign financial markets and economies could adversely affect customer demand. These factors, as well as general economic and political conditions and public health threats, could in turn have a material adverse effect on the Company’s financial results. Please also refer to Linamar’s MD&A and Analysis of Financial Condition and Results of Operations (“MD&A”) and Annual Information Form (“AIF”), as replaced or restated by one of Linamar’s subsequent regulatory filings, which set forth cautionary disclaimers, including risk factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These documents are available at www.linamar.com/investors. The Company undertakes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements. Content is copyrighted and may not be reproduced or reused without the express written permission of the Company.

Linamar Corporation (TSX: LNR) is an advanced manufacturing company where the intersection of advanced technology and deep manufacturing expertise creates solutions that power vehicles, movement, work and life for the future. The Company is comprised of two operating segments – the Industrial segment and the Mobility segment, both global leaders in manufacturing solutions and world-class developers of highly engineered products. The industrial segment includes Skyjack and MacDon. Skyjack manufactures scissor, boom and telescopic lifts for the aerial work platform industry. MacDon manufactures combine heads and self-propelled windrowers for the agricultural harvesting industry. The Mobility segment is subdivided into three regional groups: North America, Europe and Asia Pacific. Within the Mobility segment, the regional groups are vertically integrated operations combining expertise in lightweight metal casting, forging, machining and assembly for the global electrified and conventionally powered vehicle markets. The Mobility segment’s products focus on both components and systems for new energy powertrains, body and chassis, driveline, engine and transmission systems of these vehicles. In addition to the eLIN product solutions group which focuses on electrification, McLaren Engineering provides design, development and testing services for the Mobility segment. Linamar’s recently announced medical solutions group, Linamar MedTech, is focused on manufacturing solutions for medical devices and precision medical components. Linamar has more than 26,000 employees in 60 manufacturing sites, 11 R&D centers and 25 sales offices in 17 countries in the North and South America, Europe and Asiawhich generated sales of $6.5 billion in 2021. For more information about Linamar Corporation and its industry-leading products and services, visit www.linamar.com or follow us on our social networks.

SOURCE Linamar Company

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