May 31 (SeeNews) - Canadian manufacturing company Linamar Corporation said it has agreed to acquire the battery enclosures business of US-based mobility systems supplier Dura-Shiloh, including its factory in North Macedonia.
Linamar will buy the business, which also encompasses two other factories in the U.S. and Czechia, for $325 million (304.6 million euro), it said in a press release on Tuesday.
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All three sites manufacture advanced battery enclosures for Battery Electric Vehicle (BEV) applications.
The acquisition is planned to be completed in the third quarter of 2023, subject to customary regulatory approval and other closing conditions.
Linamar Corporation manufactures lifts, agriculture machines and different vehicle components. It has over 28,000 employees in 66 manufacturing locations, 14 R&D centres and 28 sales offices in 17 countries in North and South America, Europe and Asia.
($ = 0.937339 euro)