Linamar reaches 12 billion deal to buy agriculture manufacturer MacDon

GUELPH, Ont. — Manufacturer Linamar Corp. says it has reached an agreement to buy Winnipeg-based agriculture equipment maker MacDon Industries Ltd. for $1.2 billion.Guelph, Ont.-based Linamar says MacDon and its group of companies will complement its existing agricultural harvesting business in Hungary and allow the company to serve more markets globally.Linamar, which makes precision metallic parts for a range of sectors including automobiles, says the MacDon deal will allow it to further diversity its operations and end markets.‘America has much more to lose than they will ever gain’ by scrapping NAFTA: Linamar CEO‘Astoundingly clean’ balance sheet: Canada’s auto parts makers just keep roaring alongCompany CEO Linda Hasenfratz says the increased exposure to agriculture comes as the sector is in the early stages of a cyclical recovery, and with strong growth to be driven by a growing and developing global population.MacDon sells its specialized agricultural harvesting equipment in over 40 countries and has about 1,400 dealers and distributors in its global network.Linamar, with 59 manufacturing facilities globally and about 24,500 employees, had sales of $6 billion in 2016. read more

AIDS pandemic threatens development in poorest countries UN says

Launching a report entitled “Hoping and Coping: The Capacity Challenge of HIV/AIDS in Least Developed Countries,” the Under-Secretary-General and High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS), Anwarul K. Chowdhury, called for urgent, immediate action against the continuing threat to “human resource, which has been devastated by this pandemic.”“To challenge the devastating impact of HIV/AIDS in Least Developed Countries, three factors must be dealt with: the issue of debt burden, which is as high as 30 per cent and has become unsustainable, leadership in tangibly dealing with the disease, and the active participation of people at the community level,” he said.The report on the 50 least developed countries (LDCs) was prepared by UN-OHRLLS and the UN Development Programme (UNDP). It focused primarily on the LDCs because the international community have largely marginalized them as they face multi-faceted challenges and constraints, Mr. Chowdhury said. The problems posed by having 11 million people living with HIV and AIDS in the LDCs have been magnified by because of natural disasters and the economic fragility of these countries, UNDP Associate Administrator Zéphirin Diabré said.According to the report, the life expectancy in the LDCs, which had been increasing, has now dropped as low as 39 years in some countries. read more