Linamar To Buy Propulsion-Agnostic Business From Mobex For US$70 Mln

(RTTNews) - Linamar Corp. (LNR.TO) said that its subsidiary Linamar Structures USA (Michigan) Inc. has reached an agreement with Mobex Fourth and 1, LLC, and certain of its affiliates to acquire a substantial portion of its US-based assets for US$70 million.

Linamar expects to close the deal in mid-fourth-quarter 2023, and deal to be accretive soon after acquisition.

Mobex is a Tier 1 supplier of automotive components. The assets to be acquired by Linamar Structures consist of manufacturing operations for propulsion-agnostic chassis and suspension modules and components, such as steering knuckles, control arms and subframes.