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Linamar Corporation : Recognized by General Motors as 2019 Overdrive Award Winner and 2019 Supplier of the Year

07/01/2020 | 03:36pm EST

GUELPH, ON, July 1, 2020 /CNW/ - Linamar Corporation (TSX:LNR) was named GM Overdrive Award Winner during a virtual ceremony honoring the recipients of the company's 28th annual Supplier of the Year awards on Wednesday, June 24, 2020. GM's Overdrive Award, introduced in 2012, recognizes supplier partners for extraordinary leadership in cultural change and commitment initiatives that drove exceptional business results for GM. Linamar Corporation was named one of four 2019 Overdrive Award winners.

The same day, Linamar was also named a GM Supplier of the Year.

During the event, GM recognized 116 of its best suppliers from 15 countries that have consistently exceeded GM's expectations, created outstanding value or introduced innovations to the company. The awards ceremony was originally scheduled as a live-event to be held in March but was postponed due to the impact of the COVID-19 pandemic. The recognition is for supplier performance in the 2019 calendar year.

This is the 2nd time Linamar has received the Overdrive award, and 4th consecutive year that we have received the Supplier of the Year award.

"Our suppliers play a key role in delivering the products, services and experiences our customers deserve – and these award-winning suppliers went above and beyond our expectations," said Shilpan Amin, GM vice president, Global Purchasing and Supply Chain.

"We also believe it's important at this point in time to thank our entire supply base for their efforts the last few months to mitigate the impacts of COVID-19," added Amin. "Not only have we been able to safely restart our manufacturing operations, our suppliers played a key role in assisting our initiatives to increase the supply of ventilators and personal protection equipment (PPE) for frontline health care workers to help save lives and keep communities safe."

The Supplier of the Year award winners were chosen by a global team of GM purchasing, engineering, quality, manufacturing and logistics executives. Winners were selected based on performance criteria in Product Purchasing, Global Purchasing and Manufacturing Services, Customer Care and Aftersales, and Logistics.

"We were thrilled to again be the recipient of GM's prestigious Overdrive Award and or course to again be recognized as a Supplier of the Year", said Linda Hasenfratz, Linamar CEO.  "This recognition is a direct result of the hard work and dedication of our amazing team here at Linamar.  We have an incredible team that is deep in technical excellence and at the same time nimble, responsive and fast acting.  That combination is exactly what is needed by our customers, never more than in these challenging times."

About Linamar Corporation

Linamar Corporation (TSX:LNR) is an advanced manufacturing company where the intersection of leading edge technology and deep manufacturing expertise is creating solutions that power vehicles, motion, work and lives for the future. The Company is made up of 2 operating segments – the Industrial segment and the Transportation segment, which are further divided into 5 operating groups – Skyjack, Agriculture, Machining & Assembly, Light Metal Casting and Forging, all world leaders in the design, development and production of highly engineered products. The Company's Skyjack and MacDon companies are noted for their innovative, high quality mobile industrial and harvesting equipment, notably class-leading aerial work platforms, telehandlers, draper headers and self-propelled windrowers. The Company's Machining & Assembly, Light Metal Casting and Forging operating groups focus on precision metallic components, modules and systems for driveline, body and powertrain systems designed for global electrified and traditionally powered vehicle and industrial markets. Linamar has 27,000 employees in 61 manufacturing locations, 11 R&D centres and 25 sales offices in 17 countries in North and South America, Europe and Asia which generated sales of $7.4 billion in 2019. For more information about Linamar Corporation and its industry leading products and services, visit www.linamar.com or follow us on Twitter at @LinamarCorp

General Motors (NYSE: GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. General Motors, its subsidiaries and its joint venture entities, sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Holden, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at http://www.gm.com.

SOURCE Linamar Corporation

© Canada Newswire, source Canada Newswire English

Stocks mentioned in the article
ChangeLast1st jan.
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LINAMAR CORPORATION -0.56% 72.59 Delayed Quote.8.28%
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Financials (USD)
Sales 2020 120 B - -
Net income 2020 5 876 M - -
Net cash 2020 6 375 M - -
P/E ratio 2020 12,1x
Yield 2020 0,78%
Capitalization 71 522 M 71 522 M -
EV / Sales 2020 0,54x
EV / Sales 2021 0,47x
Nbr of Employees 164 000
Free-Float 92,8%
Duration : Period :
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Average target price 54,12 $
Last Close Price 49,97 $
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Mary Teresa Barra Chairman & Chief Executive Officer
Mark L. Reuss President
Paul A. Jacobson Chief Financial Officer & Executive Vice President
Randall D. Mott Chief Information Officer
Matthew Tsien Chief Technology Officer & Executive VP
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