Linamar Corporation Provides Commentary on External Market Conditions
GUELPH, ON, July 9, 2021 /CNW/ - Linamar Corporation (TSX: LNR) today released insights regarding the market activity observed during Q2 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:
- In the Mobility segment:
- Q2 global light vehicle production forecast decreased by 1.65M units vs. prior forecast, the majority of the decline being in NA. 2021 forecast revised down by 1.01M units.
- The volume reductions were primarily due to the ongoing global semiconductor chip shortage.
- In the Industrial segment;
- Agriculture's May QTD North American combine retails are up 18%.
- Access May Q2 QTD (two months) Global market up 2.5x prior year, driven primarily by Asia.
- Both businesses constrained in ability to meet market demand due to supply chain issues
- In Supply Chains;
- Supply chain commodity prices, logistic costs and product availability are impacting both revenue and margins negatively, primarily impacting the industrial segment.
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 through the following link 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 Mobility 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 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. McLaren Engineering provides design, development, and testing services for the Mobility 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
regarding this release please contact Linda Hasenfratz at (519) 836-7550. Guelph, Ontario, July 9th, 2021
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