Linamar Corporation (Linamar) is expanding its North American manufacturing footprint by acquiring select Aludyne assets for approximately US$300 million.
“We are thrilled to welcome the Aludyne teams into the Linamar family,” CEO Jim Jarrell said in a joint news release on Oct. 9.
“This acquisition enhances our leadership in propulsion-agnostic, lightweight aluminum casting and machining technologies. Aludyne’s proprietary light metal casting technology offers great growth opportunity to our structural casting business and further strengthens our Mobility business.”
The acquisition — subject to customary regulatory approvals — is expected to close “within 30 days.”
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In Canada, the “seller” of the business is responsible for providing proper compensation to staff who lose their job.
If you receive a new employment contract following the acquisition, and you have a good reason for why you don’t want to accept it (i.e. different hours or pay), contact an experienced employment lawyer at Samfiru Tumarkin LLP. We’ll help you secure the severance pay you’re entitled to.
Even without a good reason you can still get severance, but it’s very...
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