Ontario-based manufacturer Linamar to invest US$ 50 million in Durango facility
Ontario-based manufacturer Linamar plans to invest US$ 50 million to revamp and expand its manufacturing site located in Gomez Palacio, Durango, announced the governor of Durango, Jose Aispuro Torres, who met with directors of the company.
According to the official, a large part of the investment will go towards introducing new machinery with state-of-the-art technology, while another smaller amount will be used to expand the facility.
Linamar has five plants in Mexico, located in the municipalities of Nuevo Laredo, Tamaulipas; Gomez Palacio, Durango; Torreon and Ramos Arizpe, Coahuila. In this last location the company operates two manufacturing complexes.
These production sites manufacture high precision machined and assembled components for engines and transmissions, as well as drive shafts, axles and differentials for light vehicles, heavy trucks and agricultural machinery.
Last year the company reached record global sales of US$ 6.54 billion, a 14.5% hike compared to those of 2016. Adjusted net earnings totaled US$ 534.3 million or US$ 8.09 per diluted share.