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Linamar in Talks to Buy French Aluminum Caster Montupet
Canadian auto supplier Linamar Corp. is negotiating to buy French cast-aluminum supplier Montupet SA for about €800 million ($919 million), sources tell Reuters.
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Canadian auto supplier Linamar Corp. is negotiating to buy French cast-aluminum supplier Montupet SA for about €800 million ($919 million), sources tell Reuters.
Montupet supplies cylinder heads, steering knuckles, housings and other components to such customers as Audi, BMW, PSA, Daewoo, Ford, General Motors, Nissan, Renault and Volvo. The company operates seven foundries in Mexico and Europe.
Reuters notes that Montupet’s management team, which owns about 37% of the company, expressed interest in selling their stake to an auto supplier with experience in light-metal casting.
Linamar is a $4.2 billion supplier of precision metal powertrain components. CEO Linda Hasenfratz has grown the company primarily through strategic acquisitions.
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