Business is great overseas for Linamar
Posted Aug 12, 2010 06:55:28 AM.
This article is more than 5 years old.
Guelph-based auto parts manufacturer Linamar its business in China is growing so quickly that it may have to build a second plant in the country.
Linamar C-E-O Linda Hasenfratz says during the second quarter, the company earned more than 50 (m) million dollars in new business in China.
The company got a major boost from a raft of new auto contract wins in the past few quarters, as it took business from weaker competitors during the recession.
Linamar took a big hit last year from the bankruptcy filings of key customers General Motors and Chrysler, as well as severance and other costs as it cut its operations to save money.
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