Linamar Corp., Canada’s second largest autoparts manufacturer, expects to lose up to $1 million every day of the General Motors Co. strike in the United States, the company said in a news release Wednesday.
“The resulting decline in GM orders are currently estimated to impact Linamar earnings at a rate of up to $1 million CAD/day of strike,” Linamar stated in an investor update on market conditions that have changed since it last released financial results in August.Workers are fighting for better health care and wages at a transitional time for GM, which is cutting back some vehicle production, including one plant in Canada and four in the U.S., to invest instead in automation and electrification.
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