Letter of Intent with Stirling Energy Systems (“SES”) to develop and produce Power Conversion Units (PCU) for use with SES’s Sun Catcher solar dish system. The PCU utilizes external combustion engine technology to convert solar thermal energy gathered in large solar dishes into energy for input into the power grid in a highly efficient manner. “Linamar has a long history in power generation and transmission products and we are excited about this latest venture into an entirely new market,” said Linamar CEO Linda Hasenfratz. “This development and supply contract with SES allows us to further diversify our product and market portfolio through related technology and also tap into the growing market for Green Technologies”. Linamar anticipates annual revenue of more than $100 million per year from this multi year agreement. Production is expected to start in the 2010/2011 timeframe. The production location for the PCU has not yet been finalized.
For further information please contact:
Andrea Bowman Investor Relations Linamar Corporation519-836-7550