Linamar Announces Exclusive Manufacturing, Licensing Agreement, and Investment in Battery Pack Module Leader eMatrix
September 28, 2021 at 08:00 am EDT
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Linamar Corporation announced that it has entered into an exclusive Manufacturing and Licensing Agreement with Michigan-based eMatrix Energy Systems Inc. to gain access to leading modular battery pack technology. The agreement positions Linamar as the exclusive manufacturing partner of eMatrix's modular battery packs and grants Linamar exclusive licensing privileges in key markets. With the new partnership and investment, Linamar has taken a meaningful minority equity position in eMatrix ownership. Terms of the investment were not disclosed. Under the umbrella of Linamar's recently announced eLIN Product Solutions Group, this initiative is the company's first expansion into Power Storage solutions. The deal leverages Linamar's expertise in manufacturing and supply chain management, as well as existing infrastructure and industry relationships to accelerate and expand the scaling of eMatrix's product offerings. Further, the transaction allows Linamar to participate as both a shareholder and contract manufacturer with this rapidly growing startup. eMatrix's modular battery pack systems feature a unique pack design easily assembled to scale to customer needs, uses standard battery cells and are controlled with a unique Battery Management System designed to optimize thermal performance. The resultant system is scalable, flexible, lower cost and drives better efficiency in performance. The modular battery pack systems provide a highly competitive product offering to customers across Linamar's Mobility and Industrial business segments.
Linamar Corporation is a Canada-based advanced manufacturing company. The Company is engaged in providing manufacturing solutions and developing engineered products. Its segments include Industrial and Mobility. The Industrial segment consists of MacDon, Salford, Bourgault, and Skyjack. MacDon manufactures combined draper headers and self-propelled windrowers for the agricultural harvesting industry. Skyjack manufactures scissor, boom, and telehandler lifts for the aerial work platform industry. The Mobility segment is focused on propulsion systems, structural and chassis systems, energy storage and power generation for both the global electrified and traditionally powered vehicle markets and is subdivided into three regional groups and one global product group: North America, Europe, Asia Pacific, and the newly formed Structures Group. The regional mobility groups are vertically integrated operations combining expertise in light metal casting, forging, machining, and assembly.