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Powertrain component supplier Linamar Corp., Guelph, Ontario, Canada, has made an offer to purchase France-based Montupet S.A., a producer of aluminum castings and parts for the European automotive sector, for $882 million. Montupet has agreed to support the offer and not solicit other bids.
Linamar is a full service manufacturer of precision metallic components and systems for a variety of global markets with a particular expertise in aluminum component machining such as cylinder heads, blocks, transmission cases and housings and other critical engine, transmission and driveline components and sub-systems.
Montupet is a strong player in global automotive markets in designing and manufacturing highly sophisticated aluminum castings for leading, global OEMs. Montupet has expertise in low pressure die casting and gravity die casting and is a technological leader in cylinder head manufacturing. It also offers other key cast aluminum products such as turbo charger components and steering knuckles.
The business combination represents a significant milestone in Linamar’s strategy to create global leadership in the integrated casting and machining of aluminum components for the automotive sector.
“We are thrilled to reach these agreements with Montupet and the key shareholders of Montupet to support our Tender Offer,” said Linamar CEO Linda Hasenfratz in a statement. “Our businesses are very complementary, with our finished machining strength and Montupet’s casting expertise…Together, we are poised for great success, as we can jointly offer our customers one-stop shopping for collaboratively designed, cast, fully machined and assembled cylinder heads and other light metal cast products.”
According to Linamar, it has financing commitments for up to 100% of the cash price.
The announcement comes just a few months after Linamar entered into a joint venture with GF Automotive, a division of Georg Fischer AG, to provide integrated light metal casting and machining solutions to global customers. As part of this agreement, the two companies plan to build a jointly owned nonferrous diecasting facility in the southeastern U.S.
铸件展--2016第十七届广州国际铸件产品及工艺技术研讨展-广州巨浪展览策划有限公司
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17th China(Guangzhou )Int’l Casting product Exhibition
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