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BRIEF-Linamar Withdraws Its Last Stated 2020 Outlook

Published 2020-04-20, 06:12 p/m

April 20 (Reuters) - Linamar Corp LNR.TO :

* LINAMAR CORPORATION PROVIDES Q1 AND COVID-19 RELATED UPDATE ON MARKET CONDITIONS

* LINAMAR CORP - WITHDRAWING ITS LAST STATED 2020 OUTLOOK

* LINAMAR CORP - IN N.AMERICA, MAJORITY OF OPERATIONS ARE SHUTDOWN ACROSS BOTH TRANSPORTATION, INDUSTRIAL SEGMENTS IN ALIGNMENT WITH CUSTOMER DEMAND

* LINAMAR CORP - IN N.AMERICA, CURRENTLY ALONG WITH AUTOMOTIVE OEMS, TENTATIVE PARTIAL RESTART TIMING IS PLANNED FOR WEEK OF MAY 4TH

* LINAMAR CORP - IN EUROPE, NEARLY ALL MANUFACTURING SITES HAVE BEEN SHUTDOWN FOR PAST SEVERAL WEEKS

* LINAMAR CORP - SOME EUROPE SITES WILL BEGIN TO COME BACK ONLINE BEGINNING WEEK OF APRIL 20TH

* LINAMAR CORP - IN CHINA, ALL LINAMAR MANUFACTURING SITES HAVE BEEN BACK UP AND RUNNING FOR A NUMBER OF WEEKS

* LINAMAR - CHINA-BASED CUSTOMERS HAVE RESTARTED WITH MAJORITY OF VEHICLE PLANTS IN COUNTRY REPORTING THEY ARE BACK TO NEARLY FULL OPERATING CAPACITY

* LINAMAR CORP - MAJOR SHUTDOWN WILL HAVE SIGNIFICANT IMPACT ON LINAMAR FINANCIALLY IN 2020

* LINAMAR CORP - HAVE MOVED QUICKLY TO CUT COSTS AND CAPITAL SPENDING

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