GUELPH, Ont. – Auto parts maker Linamar (TSX:LNR) said Tuesday it plans to buy camshaft manufacturing and distribution business in Germany.
No pricetag was disclosed for the deal with Mubea, a global automotive supplier for springs and other products.
The business will operate out of three locations in Germany, employing about 110 people.
“Mubea has done an excellent job of developing very high quality and highly efficient camshaft hydroforming technologies which we feel will allow us to further penetrate this exciting global market,” said Linamar CEO Linda Hasenfratz.
“In addition, their capabilities in hot forging production will provide a significant enhancement to our machining and assembly operations globally.”
“We welcome this addition to our team and see great opportunity for this technology and its growth potential for the future.”
The deal is subject to further due diligence and regulatory approval.