Wescast Acquires Full Control of Weslin

Ends European joint-venture with Linamar

Wescast Industries has bought out its partner Linamar Corp.’s share in Weslin Industries Inc., for C$53.75 million. Weslin produces exhaust manifolds, turbo-charger housings, and integrated turbo manifolds for the European light-vehicle manufacturers.

Linamar designs and manufactures precision-machined components, modules, and systems for engines, transmissions, and chassis systems for automakers in North America and Europe. Wescast designs, casts, and machines iron exhaust manifolds for automotive OEMs.

The statements by Wescast and Linamar hinted at differences in the management of Weslin, but they reported the sale will settle all outstanding issues between them.

"We are pleased to have amicably resolved the issues between us," said Linda Hasenfratz, CEO of Linamar. "We worked closely together with Wescast in our partnership and we wish Weslin success moving forward."

Ed Frackowiak, chairman and CEO of Wescast, stated that, "with Wescast now owning all of Weslin, we can proceed at full speed with our European strategy and provide our European customers with full-service capability. This is a positive move for both Linamar and Wescast as both of us focus on our core businesses and strategic plans."

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