Linamar Corporation Provides Commentary on Q3 2021 External Market Conditions
GUELPH, ON, Oct. 6, 2021 /CNW/ - Linamar Corporation (TSX: LNR) today released insights regarding the market activity observed during Q3 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:
- Q3 global light vehicle production forecast decreased by 3.0M units vs. prior forecast. 2021 full-year forecast revised down by 6.2M units.
- The volume reductions were primarily due to the ongoing global semiconductor shortage which remains a fluid and unpredictable situation.
- In the Industrial segment:
- Agriculture's August QTD (two months)* North American combine retails are up 26%.
- Access August QTD (two months)* North American market is up 63%.
*Note: Market data reports only published up to August 2021 at time of this release. Q3 QTD includes July and August 2021 data. - In supply chains:
- Ongoing supply chain constraints continue to impact each of Linamar's businesses' ability to meet the otherwise strong market demand, as well as costs in terms of both commodities and logistics pricing.
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 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 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 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. 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 26,000 employees in 60 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
Linda Hasenfratz at (519) 836-7550, Guelph, Ontario, October 6th, 2021
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