SOUTHFIELD, Mich.--(BUSINESS WIRE)--

Aludyne Inc. (“Aludyne” or the “Company”), a global lightweighting solutions and components supplier to the mobility industry, today announced that it has entered into a definitive agreement to sell certain assets of its North American business operations (“Aludyne North America”), to Linamar Corporation (“Linamar”) in a transaction valued at USD 300 million (the “Transaction”).

The Transaction includes substantially all of the Company’s North American-based precision casting, machining solutions, and manufacturing operations.

Aludyne’s international operations, including in Europe and Asia, are not included in the Transaction, and will continue to operate as usual.

Under the terms of the agreement and following the closing of the Transaction, the purchased assets are expected to be integrated into Linamar’s Structures Group, part of its broader Mobility Segment. The Transaction is highly complementary to Linamar’s existing Structures and Chassis business and is expected to provide for a seamless transition for Aludyne’s North American OEM customers under Linamar’s ownership.

“This Transaction is a result of Aludyne’s strong reputation for driving innovation and operational excellence for our customers. With a streamlined portfolio upon the close of the transaction, we will be better positioned to execute on our initiatives and sharpen our focus on delivering for our customers throughout Europe and Asia,” said Eric Showalter, President and Chief Executive Officer of Aludyne. “I want to thank all of our employees whose hard work and dedication have brought us to this moment and will continue to carry the industry forward. Under Linamar’s ownership, we believe Aludyne’s North American business will be well positioned to continue to deliver world-class lightweighting solutions, expand capabilities, and create greater value for customers and partners.”

The Transaction is expected to close within 30 days, subject to the receipt of regulatory approvals, and the satisfaction of other customary closing conditions.

Advisors

Jones Day is serving as legal counsel; Jefferies LLC is serving as investment banker; AlixPartners LLP is serving as financial advisor; and C Street Advisory Group is serving as strategic communications advisor to Aludyne.

About Aludyne

Headquartered in Southfield, Michigan, Aludyne is a global lightweighting solutions and components supplier to the mobility industry. Aludyne manufactures aluminum, magnesium and iron vehicle components for safety critical applications, including chassis, subframe, body structural components, and electric vehicles. The company and its people are committed to lightweighting and its ability to enable vehicles that improve fuel economy, reduce emissions, and help lower carbon footprints around the world. Aludyne operates in six countries with 20 manufacturing facilities and five technical centers throughout North America, Europe, and Asia.

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Source: Aludyne Inc.