March 6, 2014
by Canadian Shipper
TORONTO, Ont.–Linamar Corp Canada’s second-biggest auto parts maker has reported higher net earnings for the fourth quarter which were bolstered by stronger sales in North America, Asia and Europe.
“Financially, we saw double-digit sales growth, driven by market share growth,” Chief Executive Linda Hasenfratz said in a statement of the performance in 2013.
Hasenfratz said earnings growth helped drive margins to above-target levels and also boosted cash levels, which will help the company pay down debt.
“At the same time, we registered record levels of new business wins to solidify our growth over the next several years,” she added.
Sales for the company’s powertrain/driveline segment rose 21.7 percent during the quarter, while product sales in its industrial segment climbed 27.9 percent.
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