Linamar completes Mobex Assets acquisition
Canadian PlasticsAutomotive Canadian Plastics
Mobex is a Tier 1 supplier of automotive components.
Automotive parts supplier Linamar Corp. has completed its acquisition of Tier 1 supplier Mobex.
The deal was initially announced on Sept. 21 for Linamar Structures USA Inc. to acquire a substantial portion of Mobex Fourth and 1, LLC’s U.S.-based assets for US$64 million. The assets acquired consist of manufacturing operations for propulsion-agnostic chassis and suspension modules and components, such as steering knuckles, control arms and subframes.
The Mobex facilities will be integrated into Guelph, Ont.-based Linamar’s Structures Group.
“We are thrilled to have completed a second strategic acquisition this year,” Linamar executive chair and CEO Linda Hasenfratz said in a Nov. 1 news release. “The Mobex operations join our Linamar Structures Group, now over $1 billion in annual sales, along with the three new EV battery enclosures facilities acquired last quarter from Dura-Shiloh. We are building an impressive electrified and propulsion-agnostic portfolio of structural and chassis products that greatly increases our vehicle content potential for the future regardless of the propulsion system chosen by the market. This an important strategy giving us flexibility and mitigating risk.”
Linamar management will immediately begin integration activities to accelerate the business optimization plan and to better support the needs of key customers, the release said.