Sept. 29, 2015
For Immediate Release
WATERLOO – Linamar Corporation has announced that it is donating $1 million to the Lazaridis School of Business & Economics at Wilfrid Laurier University. The gift will support the accounting program in the Lazaridis School and establish the Linamar Centre for Accounting Education.
Linamar Corporation, which started as a one-man machine shop with founder Frank Hasenfratz working in the basement of his family’s home in Guelph, today is a $4.2-billion firm with more than 19,500 employees in 48 manufacturing locations located around the world.
Frank’s daughter Linda Hasenfratz, who is now Linamar’s CEO, says that strong accounting skills are essential to Linamar’s future plans and the company’s global operations.
"Our accounting managers are a key part of our team at Linamar," said Hasenfratz. "They provide invaluable analysis of our results and forecasts, identifying positive and negative trends to help us focus on areas for improvement and ways to mitigate risk. We look forward to our partnership with Laurier as a source of more of these talented leaders to help us to continue to build our business."
Linamar’s donation will fund a fellowship and scholarships to support and encourage accounting faculty and students.
The fellowship will support a professor who is pursuing research in accounting. The fellow will also be an instructor, educating students in the theoretical nuances and practical skills of the accounting field.
The Linamar scholarships will be granted annually to students who demonstrate leadership skills and strong academic performance.
“Laurier offers one of Canada’s premier accounting programs, and this investment from Linamar will encourage and support accounting faculty and students to further their knowledge and contributions to the accounting field,” said Micheál Kelly, dean of the Lazaridis School. “Linamar’s support will serve to attract and support top accounting faculty and students.”
Today’s donation is part of Laurier’s Building Canada’s Best Business School fundraising campaign. The campaign is raising funds to support student scholarships, help retain and recruit top faculty, complete the new $103-million Lazaridis Hall, and strengthen the Lazaridis School’s unique, pioneering programming.
Linamar Corporation (TSX:LNR) is a diversified global manufacturing company of highly engineered products powering vehicles, motion, work and lives. The company is made up of two operating segments – the Powertrain/Driveline segment and the Industrial segment, which are further divided into four operating groups – Machining & Assembly, Forging, Light Metal Casting and Skyjack, all world leaders in the design, development and production of highly engineered products. The company’s Machining and Assembly, Casting and Forging operating groups focus on precision metallic components, modules and systems for engine, transmission and driveline systems designed for global vehicle and industrial markets. The company’s Skyjack operating group is noted for its innovative, high-quality mobile industrial equipment, notably its class-leading aerial work platforms and telehandlers. With more than 19,500 employees in 48 manufacturing locations, five R&D centres and 15 sales offices in 14 countries in North and South America, Europe and Asia, Linamar generated sales of $4.2 billion in 2014. For more information about Linamar Corporation and its industry leading products and services, visit www.linamar.com.
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