Guelph auto parts manufacturer Linamar Corp. said it doesn't expect to be adversely affected by the closing of the General Motors plant in Oshawa.
The company says most of its business with GM involves supplying its American plants.
"We expect to see minimal to no impact to Linamar regarding GM's announcement this morning of the closure of some of their assembly facilities including the Oshawa plant," Linamar President and CEO Linda Hasenfratz said in an emailed statement to GuelphToday partner 570 NEWS in Kitchener.
"Linamar primarily supplies product for powertrain platforms to a variety of GM powertrain plants with most product being exported to the US. As long as GM continues to build these powertrain platforms, which it appears they will, we would not expect to see any change to demand."
"The impact to GM's total vehicle build is expected to be quite minimal at this point in time meaning we will still be supplying product to the powertrain programs that supply those vehicle platforms at expected volumes."
GM announced a global downsizing Monday that includes shutting its plant in Oshawa, putting almost 3,000 people out of work.
Linamar is heading toward a record year of growth after reporting a sales increase of 18.6 per cent ($288 million) over the same quarter in 2017.
The company’s quarterly report released Wednesday showed sales of $1.8 billion in the third quarter of 2018.
For the year to date, Linamar reports $5.89 billion in sales worldwide.
