Linamar Corporation Founder and Executive Chairman Frank Hasenfratz has passed away, the Canadian supplier said on Saturday evening.
Hasenfratz died peacefully at his home surrounded by his family, the company said. He was 86 years old.
Linamar said Hasenfratz lost “a courageous battle with cancer”.
“It is with a heavy heart that we announce the passing of my father, Frank Hasenfratz,” his daughter and Linamar CEO Linda Hasenfratz said in a statement. “It is his vision and drive that have enabled us to build the business that is Linamar today.
“He left a tremendous legacy in the Canadian business landscape, changed the lives of so many people, and provided careers, livelihoods and opportunities for thousands of people.
“He has inspired and taught so many people, myself very deeply, and his spirit will live on in each of us as we continue to build Linamar’s legacy.”
Hasenfratz was born in Hungary in 1935 and moved to Canada in 1957 following the Hungarian Revolution.
He started Linamar as a sole proprietorship in 1966 in the basement of his family home north of Guelph, Ontario, southwest of Toronto. His experience in tool making and machinery, along with his determination, laid the foundation for what has grown into a globally recognized multinational company that today employs 26,000 people.
The company went public in 1986. In 2001 Linamar acquired Skyjack as it branched out into industrial equipment. In 2003, it purchased McLaren Performance Technologies to strengthen its technical product engineering capabilities. In 2007, it acquired the All Wheel Drive business from Ford. The company entered the medical field in 2020 and shipped its first units of medical devices, primarily for ventilators in response to COVID-19.
Linamar retained its position of No. 60 on the Automotive News List of the world’s top 100 suppliers with revenue of US $ 3.2 billion, up from US $ 3.85 billion a year ago.
“With regard to corporate governance linked to the position of executive chairman, the board of directors has put in place a succession and renewal plan which will be implemented in the coming weeks and will be announced to shareholders and to the public in due time, ”Linamar said. in its statement released on Saturday.
Over the course of his career, Hasenfratz has been honored as Canadian Entrepreneur of the Year, inducted into the Canadian Manufacturing Hall of Fame and the Canadian Business Hall of Fame, and was named to the Order of Canada.
His philanthropic efforts have included donations to Guelph General Hospital, Western University, St. Joseph’s Foundation, and local performing arts.
“Frank will be remembered in the halls and on the production floor of Linamar Corporation, where he mentored a generation of manufacturing and business leaders,” the company said. “At Linamar, we will continue to live by Frank’s words to strive to continually improve, to act quickly and decisively, to set goals and monitor progress and to always’ do what we do best. , better “.
“Evil alcohol lover. Twitter junkie. Future teen idol. Reader. Food aficionado. Introvert. Coffee evangelist. Typical bacon enthusiast.”