Linamar Corporation Provides Commentary on Q1 2021 External Market Conditions
GUELPH, ON, April 9, 2021 /CNW/ - Linamar Corporation (TSX: LNR) today released insights regarding the market activity observed during Q1 2021, as well as commented on other recent industry developments. The comments provide updates on the latest available industry conditions in the key Access, Agriculture and Automotive markets in which it operates.
Highlights:
- Transportation
- Q1 Global Light Vehicle (LV) Production forecast to be strongly up at 10.3% increase over prior year despite shortage in the supply of semiconductors
- Industrial
- North American Combine Market
- February YTD up 28%
- Double digit growth expected for 2021
- MacDon's Order intake well above prior year level
- Access Market for Core Scissors and Booms in North America and EMEA
- Q1 expected down from 2020 pre-pandemic levels
- Expectation for the market to be up >20% in 2021
- Skyjack's Backlog significantly higher than prior year level
A presentation deck highlighting the details is available and has been posted to Linamar's website today at www.linamar.com/investors under the section titled Reports, Presentations and Public Filings, or directly by clicking here.
Linamar Corporation (TSX:LNR) is an advanced manufacturing company where the intersection of leading edge technology and deep manufacturing expertise is creating solutions that power vehicles, motion, work and lives for the future. The Company is made up of two operating segments – the Industrial segment and the Transportation segment, both global leaders in manufacturing solutions and worldclass developers of highly engineered products. The Industrial segment is comprised of Skyjack and MacDon. Skyjack manufactures scissor, boom and telehandler lifts for the aerial work platform industry. MacDon manufactures combine draper headers and self-propelled windrowers for the agricultural harvesting industry. The Transportation segment is subdivided into three regional groups; North America, Europe and Asia Pacific. Within the Transportation segment, the regional groups are vertically integrated operations combining expertise in light metal casting, forging, machining and assembly for both the global electrified and traditionally powered vehicle markets. The Transportation segment products are focused on both components and systems for new energy powertrains, body and chassis, driveline, engine and transmission systems of these vehicles. McLaren Engineering provides design, development, and testing services for the Transportation segment. Linamar has 26,000 employees in 61 manufacturing locations, 12 R&D centres and 25 sales offices in 17 countries in North and South America, Europe and Asia which generated sales of $7.4 billion in 2019. For more information about Linamar Corporation and its industry leading products and services, visit www.linamar.com or follow us on Twitter at @LinamarCorp.
SOURCE Linamar Corporation
