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Canada's Linamar to make SoftWheel wheels in North America

Canada's Linamar Corp. entered into an agreement to make wheels for Israeli firm SoftWheel Ltd., which specializes in wheels with built-in suspensions, at one of Linamar's facilities in North America.

The partnership will help SoftWheel ramp up production capabilities by "hundreds of times" while cutting delivery times as the company plans to expand its presence globally, its CEO, Daniel Barel, said. Linamar will open an automotive-scale production line for SoftWheel and support the development of SoftWheel's current and future models.

Financial terms of the deal were not disclosed.