GUELPH, Ont. — For Canadas auto parts makers, 2014 is shaping up to be a successful year. Canadian auto parts supplier are benefitting from increasing North American auto sales and growing demand for its products. Linamar Corp. reports double-digit increases in sales and earnings in the third quarter. The company says new business wins position it well for growth over the next five years.

The Ontario-based maker of driveline components for passenger vehicles and on- and off-road industrial vehicles reported that net earnings in the three months ended Sept. 30 rose 52.7 per cent to $79.4 million or $1.23 per share from $52 million or 80 cents in the comparable year-earlier period.

Sales accelerated 14.3 per cent to $1.02 billion from $891.3 million.

We are very pleased to report another outstanding quarter of double-digit top- and bottom-line growth and margin expansion, CEO Linda Hasenfratz said in the companys earnings report, issued after markets closed.

We have had an exceptional quarter on several fronts; financially of course, but also in terms of excellent new business wins to drive continued substantial growth over the next five years, she said.