Linamar Corporation comments on third quarter 2021 foreign market conditions
GUELPH, ON, October 6, 2021 / CNW / – Linamar Corporation (TSX: LNR) today released information regarding market activity seen in the third quarter of 2021, along with commentary on other recent industry developments. The comments provide updates on the latest industry conditions available in the key access, agriculture and automotive markets in which it operates.
- In the Mobility segment:
- Global light-duty vehicle production forecast for the third quarter declined by 3.0M units compared to previous forecasts. 2021 annual forecasts revised downwards by 6.2 million units.
- The volume reductions are mainly due to the current global semiconductor shortage, which remains a fluid and unpredictable situation.
- In the Industrial segment:
- Agriculture North America’s August (two-month) * retail combine sales are up 26%.
- Access QTD August (two months) * The North American market is up 63%.
* Note: Market data reports are only released until August 2021 at the time of this publication. Q3 QTD includes July and August 2021 The data.
- In supply chains:
- Ongoing supply chain constraints continue to impact the ability of each of Linamar’s businesses to meet the otherwise strong market demand, as well as the costs in terms of raw material and fuel prices. logistics.
A presentation highlighting the details is available and was posted on Linamar’s website today at www.linamar.com/investors under the section called File Directory, or directly through the following link: http: //www.linamar.com/wp- content / uploads / 2021/10 / Q3-2021-Market-Update.pdf
Linamar Corporation (TSX: LNR) is a cutting-edge manufacturing company where the intersection of cutting-edge technology and deep manufacturing expertise creates solutions that power vehicles, motion, work and life. of the future. The Company is comprised of two operating segments – Industrial and Mobility, both world leaders in manufacturing solutions and world-class developers of high-tech products. The industrial segment is made up of Skyjack and MacDon. Skyjack manufactures scissor lifts, boom lifts and telescopic boom lifts for the aerial work platform industry. MacDon manufactures combines 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 light metal casting, forging, machining and assembly for the global electric and traditional vehicle markets. Mobility segment products focus on components and systems of new energy powertrains, body and chassis, drivetrain, engine and transmission systems of these vehicles. In addition to the newly formed eLIN product solutions group that focuses on electrification, McLaren Engineering provides design, development and testing services for the mobility segment. Linamar has 26,000 employees in 60 manufacturing sites, 12 R&D centers and 25 sales offices in 17 countries in the North and South America, Europe and Asia which generated sales of $ 7.4 billion in 2019. For more information on Linamar Corporation and its industry-leading products and services, visit www.linamar.com or follow us on Twitter at @LinamarCorp.
SOURCE Linamar Corporation
For further information: Linda Hasenfratz at (519) 836-7550, Guelph, Ontario, October 6, 2021