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Article: Linamar Confirms the Completion of the Acquisition of Ford's Automotive Component Holdings Converca Operations
- Article from:
- CCNMatthews Newswire
- Article date:
- August 31, 2007
CopyrightCopyright 2007 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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GUELPH, ONTARIO--(Marketwire - Aug. 31, 2007) - Linamar
Corporation (TSX:LNR) today confirms the completion of the
acquisition for Automotive Components Holdings' Power Transfer Unit
(PTU) business and Converca I Plant in Nuevo Laredo, Mexico.
The purchase includes the 304,000 square-foot plant, 25 acres of
land, as well as a skilled team of engineers. The PTU business
currently operates with approximately 500 staff in addition to 20
engineers.
Linamar announced a purchase proposal for the Converca I Plant in
April 30, and later announced the agreement had been finalized on
August 15. Linamar takes over ownership of the facility and
management responsibility of the staff on September 1, ...