On November 1, 2023, Linamar Corporation (TSX: LNR) announced that its previously announced acquisition of Mobex has been completed.  The deal was initially announced on September 21st for Linamar Structures USA Inc.to acquire a substantial porition of Mobex Fourth and 1, LLC's US-based assets for $64M USD. 

Mobex is a Tier 1 supplier of automotive components. The assets acquired consist of manufacturing operations for propulsion-agnostic chassis and suspension modules and components, such as steering knuckles, control arms and subframes. The Mobex facilities will be integrated into Linamar's growing Structures Group.   

Linda Hasenfratz, Linamar Executive Chair and CEO commented "We are thrilled to have completed a second strategic acquisiton this year.  The Mobex operations join our Linamar Structures Group, now over $1 Billion in annual sales, along with the three new EV battery enclosures facilities acquired last quarter from Dura-Shiloh.  We are building an impressive electrified and propulsion-agnostic portfolio of Structural & Chassis products that greatly increases our vehicle content potential for the future regardless of the propulsion system chosen by the market. This an important strategy giving us flexibility and mitigating risk."

Linamar management will immediately begin integration activities to accelerate the business optimization plan and to better support the needs of key customers.