Business news for the stock market
Georg Fischer AG:
GF Linamar celebrates official opening of its first US production facility
Schaffhausen, Switzerland (pta009/06.10.2017/10:00) -
GF Linamar, a joint venture between GF Automotive and diversified manufacturing expert Linamar, celebrated its official opening yesterday in Mills River (North Carolina, USA). Over 300 guests attended the inauguration of its first production facility.
With the official ribbon cutting Carlos Vasto, General Manager of the new facility, and his honored guests Linda Hasenfratz, CEO of Linamar, Jim Jarrell, President & COO of Linamar, as well as Josef Edbauer, President of GF Automotive, set an important milestone for the joint venture. The 57-acres high-pressure die-casting facility focuses on lightweight solutions in aluminum and magnesium for the automotive industry, drawing from the expertise of both partners. The overall investment over the next five years amounts to approximately USD 100 million.
With several major purchase orders already secured, both companies are confident the facility will reach its full projected capacity utilization in the next few years.
Linda Hasenfratz, CEO of Linamar Corporation: "We are proud to celebrate the opening of our new facility here in Mills River, North Carolina. GF Linamar LLC combines the complementary manufacturing excellence and competencies that both our companies share in the design, casting and machining of complex light metal products driving the vehicles of the future".
Josef Edbauer, President of GF Automotive, says: "The opening of GF Linamar LLC is an important milestone for us to serve our global customers even better. The strong order intake shows that our expertise in reducing vehicle weight and therefore emissions is well appreciated by our customers, certainly a promising sign for the future".
Georg Fischer AG
||+41 52 631 26 77
||listed in SIX Swiss Exchange