LINAMAR DEAL TO ACQUIRE SALFORD CLOSES
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Salford Group, a global leader in high-quality tillage and application equipment is excited to announce that the deal to be acquired by Linamar Corporation (TSX:LNR), an advanced manufacturing company based in Guelph, Ontario, Canada has closed effective June 3, 2022.
Salford Group will join MacDon Industries Limited, a manufacturer of combine headers and self-propelled windrowers in Linamar’s agricultural manufacturing division.
“Increasing volatility in food security, combined with a rapidly progressing mindset on how our food is produced, is bringing about major technological developments in ag equipment,” said Geof Gray, President of Salford Group. “Being part of Linamar’s agriculture group will allow for cross-collaboration, leveraging the best practices and ideas that Linamar, MacDon, and Salford have to offer. This allows us to continue leading the way in developing products that help feed the world, and we are proud to be a part of it.”
The acquisition positions Linamar as a leading Canadian-based agriculture equipment shortline OEM on the global stage. With agriculture being a key area of focus for Linamar’s 2100 strategic roadmap, the company expects to build its presence in the market in the years to come.
“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 application. Together with our current agriculture 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.”
About Salford Group 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. For more information about Salford Group, visit www.salfordgroup.com or follow us on our social media channels.
About Linamar Corporation 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.
Media Contact: Brad Baker, Salford VP of Sales and Marketing brad.baker@salfordgroup.com office: 519.485.3977 ext. 1112
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