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Linamar Hungary profits ploughed back into company

Shareholders of automotive parts and farm machinery maker Linamar Hungary decided to plough all of last year's after-tax profit of HUF 444 million back into the company at an annual general meeting on Thursday.

Shareholders approved the company's balance sheet showing total assets of HUF 25.35 billion on December 31, 2010 and the profit and loss statement with net revenue of HUF 27.8 billion.

Canada's Linamar holds a direct and indirect stake of 99.47% in Linamar Hungary.