Canadian engine and chassis component supplier Linamar reported a 21.4% increase in fourth quarter operating earnings as result of higher sales, particularly in North America.
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This is totally contrary to conventional wisdom that suggests that the traditional North American automotive sector is not the place for suppliers to look for growth.
Linamar operating profit totaled C$44.3m (US$38m), up from C$35.7m a year earlier. Earnings for the full year totalled C$176m, up from C$144m a year earlier.
Sales for the full year were C$2.16bn, up from C$1.84bn a year earlier. Fourth quarter sales were particularly strong due to increases in CAT heavy duty programs, various engine programs, Eaton and DaimlerChrysler differential case programs, as well as general volume increases with GM in Mexico.
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