Linamar Completes the Acquisition of the Salford Group
GUELPH, ON, June 3, 2022 /CNW/ - Linamar Corporation (TSX: LNR) today announced that it has completed its acquisition of the Salford group of companies (the "Salford Group"), a global leader in crop nutrition application and tillage products. The acquisition is an important milestone in the expansion of Linamar Agriculture's portfolio.
"We are very pleased to complete this acquisition," said Linda Hasenfratz, Linamar's Executive Chair and CEO. "Salford is an outstanding brand in farm tillage and crop nutrition. Together with our current ag division, MacDon, we have a solid foundation from which to execute our agriculture strategy going forward. We are thrilled to welcome the Salford Group into the Linamar family today."
Salford Group, founded in 1978 is headquartered in Salford, Ontario with three manufacturing locations in Canada and two manufacturing locations in the United States. The Salford product lineup includes both pneumatic and spinner type fertilizer spreaders, cover crop seeders, and a range of tillage equipment. Salford's products are engineered and built to be durable, innovative, and complementary to mainline OEM products with distinct performance advantages related to higher productivity, greater efficiency and environmental sustainability. The company has been able to leverage technological developments in precision agriculture to allow producers to manage their crop production with an ever increasing degree of accuracy.
Linamar used funds available through its existing credit facilities to complete this transaction.
For more information on Salford's lineup of agriculture equipment offerings, visit their website at salfordgroup.com
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 Mobility segment, both global leaders in manufacturing solutions and world-class developers of highly engineered products. The Industrial segment is comprised of Skyjack, MacDon and Salford. 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. Salford also supplies the agriculture market with farm tillage and crop fertilizer applicator equipment. 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 light metal casting, forging, machining and assembly for both the global electrified and traditionally powered vehicle markets. The Mobility segment products are focused on both components and systems for new energy powertrains, body and chassis, driveline, engine and transmission systems of these vehicles. In addition to the recently formed eLIN Product Solutions Group that focuses on Electrification, McLaren Engineering provides design, development, and testing services for the Mobility segment. Linamar has 26,550 employees in 65 manufacturing locations, 14 R&D centres and 28 sales offices in 17 countries in North and South America, Europe and Asia, which 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 media channels.
Salford Group is a global leader in manufacturing tillage and precision application equipment. Salford is dedicated to improving agricultural productivity and profitability through innovation and advancements in precision, durability, versatility. Salford Group's products include the patented I-Series and HALO tillage product lines. Salford's AerWay division brings quality tillage and pasture aeration equipment. The BBI Spreader and Valmar divisions of Salford bring decades of patented dry application innovations. Salford engineers and manufactures its highly productive agricultural equipment from its facilities in Iowa, Georgia, Ontario, and Manitoba. For more information, visit our website at www.salfordgroup.com or visit its social media channels.
SOURCE Linamar Corporation
