Linamar Corp. plans to interrupt floor “immediately” on a brand new manufacturing plant in Welland, Ont., that may home three giga-casting presses able to producing very massive aluminum structural components for electrical automobiles.
The Guelph, Ont.-based components provider introduced the brand new website within the metropolis south of Niagara Falls because it reported its first-quarter earnings May 10.
Company CEO Linda Hasenfratz mentioned the state-of-the-art plant is “critical” for the way forward for electrified automobiles.
“As the first supplier to invest in this equipment in North America, Linamar will naturally take a market leadership position in this technology.”
Pioneered by Tesla, giga-presses are used to provide massive structural automobile elements, changing components that beforehand required quite a few welds with a single aluminum piece.
Linamar COO Jim Jarrell mentioned the funding is the following step within the firm’s high-pressure die casting technique, and follows an “increasing trend” for forged aluminum in automobile structure.
“The Welland Giga casting facility will have capabilities few companies in the world possess. … Structural aluminum castings offer an alternative to traditional steel stamping and weldments, creating a less complex and more lightweight solution for OEMs.”
Linamar mentioned the brand new plant will home three 6,100-ton high-pressure die forged machines. The worth of the funding within the facility and tools weren’t instantly out there.
Construction will begin in Welland instantly, and components manufacturing will start in February 2025, the corporate mentioned.
In its earnings report May 10, the provider mentioned first-quarter gross sales had been up 28.9 per cent to $2.29 billion, a brand new file for 1 / 4. Linamar mentioned earnings earlier than curiosity, taxes, depreciation and amortization had been $297.1 million, up 40.9 per centover the $210.8 million for a similar quarter a yr in the past.
This story shall be up to date.
Source: canada.autonews.com