Ladies and gentlemen, thank you for standing by and welcome to the Linamar Annual General Meeting. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. I would now like to hand the conference over to Mr. Frank Hasenfrance, Chief sorry, Executive Chairman of the Board of Directors.
Please go ahead, sir.
Thank you. Good morning, ladies and gentlemen. Welcome to our twenty twenty Annual Meeting of the Shareholders of Landmark Corporation, which we'll comment shortly. And Frank Hasenfratz, Executive Chair of the Board of Directors. I'm joined today by Jim Gerald, Dale Schneider, Roger Fulton, Mark Stoddart and Linda Hasenfratz.
Before proceeding with the business of the meeting, I would like to acknowledge that this meeting is being held in an unusual circumstances. Given the current health crisis and federal and provincial restrictions and business gatherings, we are holding this meeting in largely virtual fashion. The vast majority of you will be joining on a webcast and your votes have been submitted and tabulated via proxy. We hope that those of you who are joining us today are in good health and that you have navigated these difficult times as best as possible. Lenema, for its part, has been doing its best to contribute to the health and well-being of its local community and will address some of those significant efforts we are engaged in during the investor presentation at the conclusion of the meeting.
For now, we will endeavor to conduct this meeting in the usual fashion unusual fashion and invite you to participate with your questions and the conclusion of at the conclusion of the meeting and the investors presentation that will follow. I would now introduce the rest of the board of the directors who are joining via webcast. Terry Rydell, Dennis Grimm, and our nominee for this year, Lisa Forwell. We are also joined today by Bill Harrison, our longest serving independent director who is retiring from the board having completed a long and distinguished period of service to the company. Lirmal would like to thank Mr.
Harrison for his effort and commitment to the growth of the business. During Mr. Harrison's service to the Board, Linnamar has expanded from a largely domestic based entity to a global enterprise generating $7,400,000,000 in revenue. The company is grateful to Mr. Harrison for his more than thirty year services.
Once the formal business of the meeting has been completed, there will be presentation providing a general business update followed by question and answer period. We will now proceed with the formal business of the meeting. I now call the meeting to order. I will preside as chair of the meeting. Roger Fulton will act as secretary of this meeting, and Arlen Agnew of Computershare Investor Services will act as scrutinies for the meeting.
I will now open the line up to Arlene Agnew of Computershare Investor Services, Inc. To share with us the number in respect of meeting meeting the quorum.
Mister
Go ahead.
I'm sorry. Mister executive chairman, the numbers in respect of the meeting meeting quorum indicate that there are two present and 70 shareholders by proxy holding approximately 50,074,288 shares and that, therefore, the quorum is present.
Thank you, Arlene. As notice was properly given, I declare that this meeting is duly and properly constituted for the transaction of the of business. I direct that the declaration of mailing of the notice of the meeting provided by the computer share and scrutineers complete report on attendance be annexed to the minutes of this meeting. There are several matters that must be dealt with during this formal part of the meeting. Let me now explain the procedure we will follow for this meeting.
In order to expedite matters, I have requested that certain person make and second the formal motions, and I will call on those persons at appropriate time. I have been advised by the scrutineers that awarding results on both matters of business before today have received more than 50% of the total votes cast in favor. As such, I will forego the usual voting by show of hands given the unusual circumstances under which this meeting is being held. I will also forego with the reading of the notice of this meeting. The secretary has the minutes of the last meeting of the shareholders and this can be examined anytime by assessing the investor relations portion of Linamar website.
I will also forego with the reading of the minutes of such meetings. The next item of business is the presentation of the corporation's consolidated financial statement prepared in accordance with Canadian general accepted accepted accounting principles and the auditors report thereon. A copy of these financial statements for this year ending December 3139 and the auditors report was mailed to each shareholder with a notice of this meeting and additional copies are available. With the consent of this consent of the meeting, I will forego with the reading of the auditor's report. We will now proceed with the appointment of auditors of the corporation.
I request a motion that PricewaterhouseCoopers chartered accountants be reappointed as auditors of the corporation until the close of the next annual meeting of the shareholders or until a successor is appointed and that the Board of Directors are authorized to fix the auditors remuneration.
I so move.
Is the motion seconded?
I second the motion.
I declare the motion carried. We will now proceed with the election of directors. The number of directors to be elected in this meeting has been set at six. I declare the meeting open for nomination. I ask Steve Bowman, a shareholder, to to nominate each of the persons specified in management information circular delivered with the notice of the meeting.
Mister chairman, I nominate each of the persons specified in the management information circular with the notice of meeting, namely, Carrie Riedel, Lisa Forwell, Dennis Grimm, Frank Hasenfratz, Linda Hasenfratz, and Mark Stoddard. Service directors of Linamar Corporation hold office until the close of the next annual meeting of shareholders or until their successors are duly elected or appointed in accordance with the articles and bylaws of the corporation?
Those nominees have accepted their nominations. No other nominations for election of directors to be to the board or the corporation were received in accordance with with the cooperation's with the cooperation's advanced notice by law. As there are no other qualifying nominations, I declare the nominations be closed. I request a motion that the six person nominated as directors of the corporation be so elected. I so move.
Is the motion seconded? I second the motion.
Voting on those standing for election as directors has has been concluded in accordance with the corporation's majority voting policy. I have been advised by the scrutineers that the voting results are more than 50% in favor of each director director nominee. Accordingly, I declare those nominations to be the duly elected directors of the corporation for ensuing year or until their successors are elected or appointed. Since there is no further business that includes the formal business brought before the meeting, a report disclosing the number of votes cast in favor and against each of the motion will be filed unceded promptly following the meeting. I now request a motion to close the meeting.
I so move.
Is there a second there? I second the motion.
Thank you for attending, and I now declare this meeting be terminated. It doesn't say anything, can I turn it over to you?
I will take over that. Okay. Okay. Well, thanks very much. Obviously, a little bit of a different circumstance this morning.
But regardless of such, Jim and I would still like to take you through a bit of an overview of what's happening at Linamar and how we're handling the current situation. So we thought a great place to start is some of the slides that we've been sharing with our team on a very regular basis during these difficult times. And I think this is a great slide and a great way to think about where we're at right now that tough times don't last, but tough teams do, and we are one tough team at Lindemars. This is something we say over and over with our people, and I think is a great perspective to have for these difficult times. Attitude and welcome is just so very important.
I mean, we can decide to be victims or we can decide to find opportunity. And at Lindemar, we've always been a company that has absolutely taken tough times and find found ways to grow, to find opportunity and to improve. I think that Linamar is and always has been a resilient company. I like to quote resilience is the capacity to recover quickly from difficulties. It's about toughness.
And that is exactly who we are at Linamar at the moment and always. So a few highlights of 2019 and then we're going to really focus in on what's happening right now at LINEMAR. So looking back on 2019, I would say six really key areas that stand out to me a great performance. Number one, excellent market share gains in every one of our businesses. And this has always been a long term goal of Glenmark is to increase our market share to boost our results when markets are growing and to offset market declines when markets are declining.
And we certainly saw that in 2019 with some freight market share gains in all of our businesses. We saw strong new business wins in not just traditional markets, but new markets. Electrified vehicles is a great example where we've really been making some exciting headways, new regions as well with great growth happening internationally as well as continued strong wins here in North America. From a people perspective, we saw some great improvements and engagement in our succession program, which we call Each One, Teach One, which really just as the name suggests, means we are all a part of grooming leaders for the future here at Linamar. I also feel like we saw some great momentum building in terms of our ESG programs.
So the environment, social, governance, these are all areas where we have long had a commitment at Lindamar and I feel like in 2019, we made some great progress in better communicating all the things that we're doing in that regard and more on that in a moment. Meaningfully outperforming markets on the top line. So as noted, when markets are down, you need market share growth to offset that. And that market share growth did translate into us outperforming markets meaningfully in each of our business on the top line. And finally, and again, just so importantly, we saw a great free cash flow last year, strong free cash flow of more than $600,000,000 which helped us enter into 2020 with a very strong balance sheet and a high level of liquidity north of $1,000,000,000 which we built to $1,200,000,000 by the end of the first quarter.
Absolutely key to withstand these difficult times that no one knew was coming. However, having that strong balance sheet is how you capably manage through that. So really pleased with that performance last year. Just a little bit of a closer look on the ESG side, I mentioned, I think we did a better job of communicating what we're doing in these areas. The environment has always been a key focus for us at Linamar, both in terms of our growth strategy because green technology and product innovation that drives a more sustainable environment has long been the underpinning strategy for each one of our businesses.
But also in terms of how we run our facilities, energy conservation, water conservation, rooftop solar, off grid cogeneration projects, low energy lighting, all of that is incorporated in our facilities globally. In fact, 85% of our plants globally have the environmental standard certified of ISO 18,001. Similarly, on the social side, we have long been strong supporters of our communities, strong supporters of diversity, both within our organization and outside of it. We have between 2022% women leaders in Linamar depending on the level that you're looking at compared to an overall workforce of 19%. So we are proportionately represented, actually a little over represented, which is great to see.
We've got great ethnic diversity in our leadership right across the company and in every country. We were recently recognized by the Global Mail in their inaugural Women Lead Here list of companies for our exceptional diversity program, which we're very proud of. We have a supplier diversity program as well. We have policy for our suppliers as well to make sure that they are running their business in a way that we align to. We do a lot of work in terms of external promotion of women in leadership, in science, technology, engineering, math and the trades with many different programs supporting women, whether it be at grade school, high school, university and beyond.
And then a very active charitable giving program focused in all kinds of areas, but I would say primarily arts, education, healthcare, youth and community would be the places that we probably focus the most. And on the governance side, we are very active in terms of continually reviewing our governance policies. We put some new processes in place over the last year to allow our shareholders better direct contact with our Board. We have a portal that's been established, contact your boardlinamar.com that gives you direct access to our independent directors. We also established a process late last year that will allow key shareholders, so our largest shareholders access to our independent board members on an annual basis as well to dialogue.
I think we did a great job, much better job this year at disclosing what we're doing around compensation, what we're doing around governance in our information circular, which I think much does a much better job of explaining what we're doing and why. We embarked on a board renewal program last year and we have a dynamic new board member, Lisa Forwell joining the board this year. We're very excited to welcome Lisa on board. So a lot happening in each one of those areas, which I know is important to many of our shareholders and is certainly important to us. Okay, let me move on to an update of the COVID-nineteen -nineteen situation and our response to that.
So turning out just in terms of any time you have a crisis, you approach it basically the same way. Step one, assemble a team. We put our COVID-nineteen task force together back in early March, made up of our senior executives, operational and HR folks to inform and help make decisions quickly, rapidly and effectively. So that's step number one, get a team together with the right resources. Step two, gather data for that team to be just as well informed as they can be, which is something we do on a regular basis to make sure we're making the right decision.
Number three, make a plan and of course execute on that plan. We put in place our Linmar Health First program back in March as well and have been diligently executing on that since then. Our Health Plan is of course putting the health first of our employees first and foremost, but it's also about Limbark's health financially, it's about the health of our customers and health of our communities. So that Health First Plan is quite a comprehensive plan that looks at all of those stakeholders. And finally, communication, absolutely key to communicate frequently with all of those stakeholders.
We've been communicating very regularly with our employees in the early days every few days, backing off to weekly and now biweekly. We had sessions with many of our key investors to inform them about what was happening and where we were at and what our plans were. So that's sort of our general approach to the crisis. At the moment, we're very much focused on recovery. So number one, first and foremost, is creating a work environment where people feel and are as safe or safer coming to work than not coming to work, really trying to shift from fear of the virus to hope and also comfort and safety that they can come to work and be safe, which is exactly what we want to see.
We're taking lessons learned from other countries that have been ahead of us on this curve in terms of developing that safety protocol as well as giving us a bit of a clue as to what will happen from an economic perspective. And then really trying to focus more broadly on rebuilding confidence, not just in their ability to work safely, but in our economy and our governments, the lockdowns and isolation will end and things will start to come back to normal. So some key principles of our safe work protocol screening, obviously before people come into the building, want to make sure they're healthy. Personal protective equipment once they're in the building, distancing, extra cleaning and hygiene and tracing so we know who's interacted with who in the event that there is a positive case, we will be able to rapidly identify who may have been at risk. Let's take a quick look at market.
So just looking first at the automotive market globally, again, it's interesting because this virus has played out in phases around the world, we are able to see how things played out in China, then Europe and then The U. S. Because that's the order that the virus, of course, rolled out. So China, you can see a pretty dramatic decline in terms of light vehicle sales. This is retail sales overall in the market, not our sales, in China.
So you can see retail vehicle sales dropped over 80% in February. They were still down over 40% in March, but by April, we're up over prior year. So that's a positive sign and gives us some hope that things will resolve similarly in both Europe and North America. Looking at Europe, remember Europe was several weeks behind China in terms of timing. So they're probably a good month to six weeks later.
So you see they dropped 50% in March, they were down 80% in April. We await the May numbers to see where things will land. You should be ready to see a main number that's actually quite negative as well, not necessarily because the consumer is not coming back or the market is not coming back in Europe, but probably much more so because many of the automotive OEMs in Europe are talking and countries rather in Europe are talking about putting incentives in place to incent vehicle purchases. And naturally consumers are waiting for those policies to be put in place before buying. So don't be distressed if you see May as a really bad month.
I am confident that once these policies are rolled out, we will see a pickup in June. Interestingly, different curve in North America, you can see here U. S. Light vehicle sales in March down 38%, in April down 45%, 46%. So not nearly down as much as we saw in either Europe or China.
So a surprising level of resilience in the North American consumer. Early indications are that May will only be down 15% to 25%. Now we haven't seen the numbers yet, so we don't know. But that is the early prediction, which means they are already recovering and that we didn't go down to nearly the depth of the other regions, which is a positive in terms of what the rebound will look like and what the restart will look like. So China took a couple of months to get back up.
They are now back up like within our facilities in terms of production that close to 100%. Europe is like slowly coming back. But we believe that North America will come back a little bit quicker because the pipeline of vehicles is pretty empty because automakers were down for two long months and sales didn't drop as much as they did in other countries. Taking a look at the assets and agricultural markets, can see pretty significant impact to access. So on the left hand side, that's the access market, the orange bar was the 2020 forecast pre COVID.
So you can see there was an expectation for declines more so in North America, although rest of world, which is mainly Asia was expected to grow. Post COVID, you can see the forecast for 2020 in the gray bar now quite significant declines expected in North America and Europe of close 50% and declines in Asia as well now expected down 25% instead of up 18%. And then the blue bar there is the actual Q1 declines, all of which were somewhere around 35% on a global basis. Now on the right side, you can see the agricultural market. So down from last year, yes, but interestingly, already expected to be down from last year and basically exactly where we thought it would be.
North American combined retails were down 22% in the first quarter, notably April kind of closing the gap from last year, so getting a little bit better. And basically exactly where we had predicted it would be late last year. So COVID-nineteen not having an appreciable additional negative impact on a market that was already expected to be down somewhat. Okay. So what are we doing about the situation?
Well, obviously, we jumped in quickly, as noted earlier, in terms of our Linamar Health First plan, which, of course, has a big health first financial aspect to it as well. So cash conservation and cost control are absolutely top of mind. We moved quickly to cut costs and capital spending. Capital spending was down 25% in the first quarter, and we're targeting to be down a third over last year for the full year. Of course, we made workforce adjustments.
We cut back spending in a whole variety of areas. We also put a global cost team in place to pursue additional cost and waste reduction ideas and initiatives. And they've seen excellent success actually. If we go to the next slide, you can see what they have implemented to date, which is $23,000,000 already in only eight or nine weeks, dollars 22,300,000.0 implemented and quite a few initiatives still underway that they're working on. So just really pleased with how well that team is doing.
Again, you can see the Q1 CapEx cut in on the right hand side of the screen there, 25 down from last year. The balance sheet, of course, is a key focus for us. As I mentioned earlier, our balance sheet is strong. We're carefully stress testing to understand our limits. Now, of course, we can only make a forecast based on current knowledge, and those things can change.
But what we're trying to do is stress the model to understand with extended shutdown, what would things look like for us for 2020. And even in a stress scenario, we do expect that we will still be profitable for the full year 2020, that we will have positive free cash flow and that we will not reach covenants. I'd also like to mention we have no debt maturing this year, which is also quite positive. So okay, predicting the outcome is difficult. But as you know, we react quickly and we're keeping a close eye on all expected impacts.
You can see here the stress scenarios. So compared to our pre COVID expectations for earnings, we cut that in half and then our stress test cuts it in half again. So just to give you a bit of a sense for what we're doing there. Okay. The last part of our Live My Health First program is making sure our communities are healthy.
So lots of different initiatives that we're doing in that regard. Probably our biggest effort is around a shift into ventilator production. And I think this is just a great example of Linamar's manufacturing flexibility to be able to rapidly shift our production from making vehicle components or agricultural equipment and access equipment into making, in some cases, exceptionally complex ventilator units. So you can see the Thornhill unit there that 1,700 different components. We were up and running in six weeks on that product When we were making just parts for various speculator manufacturers, we were running within two weeks of an order.
We also have tooled up a UV disinfection unit for mobile phones, which we were ready to roll in four weeks. And I make emphasis on this because I think it is great evidence of our strong organizational culture, our agility, our manufacturing expertise and responsiveness to move so quickly these programs. Our equipment is flexible, that makes the difference. And our team is responsive, they're technically excellent and very adaptive to making new products quickly and capably. And that's a big part of why Linamar is so well suited really to manage a crisis like we are in today.
I'm really proud of the team that we have. Lots of other things we're doing in terms of community support, whether it be donations, personal protective equipment, we made up some nut tubes for healthcare workers in our communities. We're donating all kinds of masks and gowns. We are doing all kinds of innovative things as well. We're storing products to local hospitals.
We're delivering basic necessities to vulnerable people in our communities. We're using innovative technology like three d printing to make face masks, face shields, to make touchless door openers, to make ear savers for to use with masks for nurses and doctors. So a great example of the innovation we can bring to the table to help support our communities. Okay. I'm just going to leave off with a little picture of the future because as I started out saying tough times don't last.
So we will get through this and we will get back to our long term plan at Linamar to look at key global trends that are going on like rapid technology evolution, like a growing intensity to address environmental concerns and urbanizing growing and aging global population, which is the basis of the markets that we are focused on today. So transportation, infrastructure, food, all markets we are primarily focused on today, power, water and aged medical are newer markets that we are starting to get more involved in today as well. As you know, we have three strong, strong businesses in MacDon on the harvesting side, Sagdak on the access side and our core Linamar brands in the transportation automotive market. Great independent businesses, very independently run, but deeply value connected. And I think this is what creates really a unique value creation model at Linamar, independent businesses, but deeply interconnected to drive additional value by being together under one umbrella than they could ever have independently, whether it be in terms of lean manufacturing systems, supply chain management, purchasing, looking to link and lever our global requirements, sharing best practice ideas and just supporting each other as we globalize.
We've got this great interconnection between our businesses, but at the same time independently run to really try to maximize and get the best out of our performance. Our key growth strategies in each of these markets you're familiar with in terms of access and agriculture, it's all about growing our international market share and expanding our product lineup, both of which are going extremely well for both Skyjack and MacDon. We've seen fantastic international market share growth at MacDon In the first quarter, we sold something like 70% of what we sold for the in the entire year last year in Europe, we already sold in the first quarter at MacDon. So great to see that kind of international market share growth, same success at apps and again our accesses and Skyjack with some great product lineup expansions with our BOOM and Tullahama products that are rapidly gaining market share.
On the transportation side, really a twofold strategy. Number one, grow market share in electrified vehicles and take advantage of the huge opportunity that we see in terms of electrification in that market and lever increased outsourcing to grow our overall global content per vehicle. Our goal is really a balance of content per vehicle and internal combustion engine driven vehicles and electrified vehicles to help us meet our goals and meet our customers' goals. Of course, innovation is the heart of that strategy and how we execute on that, whether it's in terms of product development, process development, material development, digitization, other types of innovation and importantly, manufacturing partnerships with tech startups. And that's where I'm going to end off today is with a quick look at a great manufacturing partnership that we put together late last year with a really innovative, excellent company in Toronto called Synaptive Medical.
They have two great products that we are going to be manufacturing with them. You can see the first one pictured here. This is the MODIS five. It's an advanced robotic and digital microscope surgical system. So great opportunity for managing the surgery more efficiently.
We can reduce surgery time by about 20%, better ergonomically for the surgeon, better for the patient, not be under anesthetic for so long and better visualization of the work area for the surgeon. So we're really excited about this product. The second product is called Every. Every is a revolutionary head only MRI machine. It is a light footprint.
It's 2,000 pounds compared to competitors at 10,000 or 20,000 pounds. It is small footprint, two fifty square feet instead of 1,000. What that means is you can install this MRI machine anywhere in the hospital. You could literally put it in an elevator and take it up to install in an ICU, in an operating room, in an ER to really transform the way that medicine is delivered. It's playing an important role already in terms of COVID-nineteen.
There's a study going on, on the East Coast right now, utilizing our equipment. So we're very proud to be part of this program. Okay. With that, I'm going to turn it over to our President and Chief Operating Officer, Jim Jarrell, to give you a more in-depth view of what things are like in the operations today.
Jim? All right. Thanks, Linda, and good morning, everybody, and great to be here virtually with everybody. Go ahead, Kevin. This, of course, is our annual shareholder meeting.
And a lot of times we want to reflect on 2019, but I think a lot of that is sort of ancient history and certainly in the rearview mirror. Really contemplated this coming into 2020. In business, I think there's nothing more important in a crisis than a company culture. And I think at Linamar, we're absolutely no different, and we're using our culture every single day. It starts, of course, as you can see here with teamwork and utilizing our leadership behaviors and core values.
And we know our company culture in Linamar basically improves our performance. We know it improves our employee well-being and it really defines I think us internally, externally. And I think there's never probably been a better time in the history of this company really to deploy our leadership behaviors of passion and planning and getting things done and having the edge to make tough decisions, communicate and then really care for our people. And I know I'm not speaking for I am speaking for Linda and Frank myself, but I could say, I think over the last eight, ten weeks, there's nothing more proud than our Linamar team and the teammates around the world that have really stepped up, I think, in this timeframe. During a crisis, it's also and actually not just in a crisis, it's really important that people understand what makes a strategy, what will make it successful.
And I think that's ultimately command intent. And it's not what we're telling people how to do things, but really what people should do. And ultimately, we believe in our people that will be creative to really get these things done. And our command intent you see here is really to be the supplier of choice for our customers, employer of choice for our employees and certainly the investment of choice for our shareholders. We know in Linamar to do this command intent, have to do two things.
One, manage the present, create the future. We've talked about this before, easy to say, not so hard to do, but this is where we are laser focused every single day in the company. I thought one of the creative way to maybe walk through today in managing the present and creating the future is maybe to walk everybody through a week in the life of Linamar in this COVID situation. And there is a saying that I think we've also we talked about in Linamar as well, discipline sets you free. And I think at Linamar, we've adjusted some of our weekly activities that Linda sort of highlighted.
But certainly, we've been practicing for years this sort of concept around the world. And really, we are in a rhythm and really we believe that we have the capability of moving forward every single day. The one thing that would be a little bit different, of course, is working from home. And that has created challenges. But I must say that really in the history of what we've been doing over the last several years globally, we've been connecting virtually all the time.
So running through basically our week and some of this Linda highlighted, but on a Monday, basically we have every business unit, eight business units around the globe meet individually, regionally to really deep dive where we are with customer issues, employee issues, financial issues. You see that as the first thing there. COVID-nineteen task force meeting every Monday. We're meeting basically to connect the dots on where we are with cases around the world, where we are with financial systems, markets, etcetera. So really taking a global look at the overall of the company.
And then the last sort of thing on that day, and Linda highlighted earlier as well, is talk about communication and meeting coordination for the week. So what are we actually got to get done this week? So next day would be on a Tuesday. So this is now where we've taken what we've done regionally and all of us now get together first thing in the morning. This is all the global leadership and really driving around what's going on with customer issues, commercial issues with customers, shutdown issues, quality issues, everything around customer, employee as well, where are we around the world with people issues, statistics on COVID issues, morale, really get a sense of where we are and everybody is connecting the dots.
So we know what's going on in Asia. Know We what's going on in Europe, we know what's going on in North America. Also during that day, we talk about org development, really structural issues that are going on with people around the world. It really define what needs to change, how do we connect the dots that way. And then the last sort of major thing that we're doing on a Tuesday is launch reviews.
There's been a lot of customer launches that have changed timing, changed dates, changed volumes, have been delayed. And we really need to deep dive this to reconcile to what we're doing in our facilities and also can we share capital, how do we utilize the capital as well. So that's another thing that we're getting done on Tuesday. The other thing I wanted just to highlight back to the Tuesday is we are and Linda highlighted as well, preparing continually for the teammates of tomorrow. And diversity program is front and center to what we're doing.
But also we are creating programs, we're giving hands on experiences and training curriculums that are really important to ultimately retain the people that we have long term, attract future people, certainly improve our skills and develop people for future jobs as well. Wednesday, Wednesday is all about growth day. I mean, we really focus in on growth and sort of look at customer opportunities around the world, and I'll explain a little bit of this shortly. Look at distressed supplier competitor issues, and we are actively we're not wishing anybody harm in this scenario, but there will be opportunities out there that we will engage in to help our customers to support ourselves and them as we drive forward. We look at business development ideas and also innovation pursuit and updates.
And then later, we do a, what we call a red pop meeting. This is when there's a red issue, which is a hot issue throughout the company and we need to make a decision and we make a decision to move forward immediately. So really on the sales side, just to give you a concept, right now, we've got about $5,000,000,000 of chase, dollars 400,000,000 should be won in the next ninety days, dollars 700,000,000, won in the next one hundred and eighty days. And then in the remaining pipeline, we've got about 3,500,000,000 of chase items. And for every on the transportation side, I think we really have we touched upon this last year.
We have products for every different consumer. So if you're an ICE internal combustion consumer, we've got products for you. Battery electric vehicle consumers, we've got products for you. Fuel cell products for you, hybrid vehicles products for you. And any architecture really have a structural portfolio that we can service the world.
And some wins in pursuit in the EV world just to highlight some of the key items. I mean, you see some gearbox assemblies rotating components, the hydrogen tank that we've shown before. Battery trade is something new this year that has been a new win and a new frontier that we are definitely into and differentials. So really a lot of new EV product portfolios that we have been focused on pretty aggressively in the last year. Turning to Skyjack really around an innovation focus telematics, really telematics is all about just monitoring the state of the health of that lift and what our customer has.
And certainly, I mean, is all about getting the information that they can use to really manage their portfolio, equipment and really how the condition of it is in the field and it really drives the value of that machine over the life. So the take rate on this has been pretty significant since we started in 2018. MacDon, just a quick innovation slide here. Last year, they came out with a hit them with the Haymaker demonstration program, which was a cool name, but this is about a rotary disc header for hay crops, which really helped get a clean shave down to the ground, create a better rows for them and help condition the field as well. So another really decent product coming into the into our portfolio.
And Linda highlighted this, but hey, repetition to me is the mother of skill. And really, I think this again highlights our medical market entrance into this. Again, really the MODIS V and the MRI, great products that we're connected on. But really the ventilator side and that ultraviolet light sanitizer are really key items to us, show our manufacturing capability. But when we also work with our customers, we can see that we can really help them create value as well.
And these have been really interesting to work on from a company perspective. Innovation Hub, IHOP up and running, so that's a great news. Go ahead and here's a slide. So the innovation hub is really now starting. They're doing the ventilators there.
They're doing that ultraviolet device, which you can see in the bottom left being assembled. So really, our iHub is getting pretty full right out of the gate with some of these medical market products. And I think this is a nice note from Mary Barra, who is the CEO of General Motors that sent us a note saying, hey, thanks for your support on helping us with ventilators with a company called Ventec. And just to give you some of that sense, GM called us on a Thursday. We were in on the weekend to pick up drawings and parts on a Saturday.
And the following Saturday, we sent in our first part. So we jumped all over this extremely quickly. Thursday is Money Day, really where we are 100% focused around where we are at. So every group we sit down with again on this day and we want to know what is your outlook for sales, earnings, CapEx and what do you need non cash working capital. We look at the cash flow review and we approve every single penny that's going out the door right now just to make sure that we are on top of where the cash is.
And at the end of that money section is where we go through all the government assistance programs. We're very thankful for what the governments have been providing. We're very on top of this globally. So this goes around the world in every region where we're looking at it. We do a global cost containment, Linda mentioned this group.
I'll hit a highlight on that shortly. And then we also sort of finished that day with a really overall financial modeling, stress testing, where we are overall with Linamar outlook, and that's really a critical sense to understand where we're at. Go ahead. And then Linda showed this, we're really pleased. Typically, Linamar, we talk about lean.
We do this all the time. But again, from eight, ten weeks, 23,000,000 that we've really focused in on and looked at and implemented. And the next slide here shows, these are about thirty eight, forty different items that we worked with the Chairman on to really identify and go after. The first the top two are, I mean, just use those software and company cars. I mean, the point is we're not people working from home are not using all the software, company cars, sort of the same thing.
So why would we have to be paying for all those items when we're not utilizing them fully? So a lot of those have the same sort of messaging in there that if we're not using, we should really be deferring those costs. That $23,000,000 really is made up of a lot of those things that we have focused on. And this is around the globe, again, with our people that are connected on that. Friday is more of a learning day, I think.
We have our learning webinars in Linamar. We started this again six, eight weeks ago. We do sort of a weekly lessons learned. And at the end of the day, we really are talking about, hey, where's our ventilator status and community support updates. And I got to once again reiterate what Linda said, outstanding work from our people on supporting our communities around the world.
It's actually been incredible to see and the stories, there's amazing stories that we have heard. And just on a webinar basis, I mean, it's maybe hard to see these, but we started with one leading remote teams effectively. I mean, we had a lot of people working from home, so should figure that out. How to grow and stay in contact with customers during this time frame. Lean and cost thinking during tough times, your machine maintenance during shutdowns, our stepping stool and dealing with employees during a crisis, which were all really relevant subjects for us here at Linamar.
Upcoming webinars that are now underway is operating with COVID. What are we learning, right? So we want to get everybody together and make sure that we're on the same page. Linamar product knowledge training, now that we are into this whole other new area, it's important that we have people understand what a ventilator is, what is this ultraviolet system. So really, we want to do a little bit of that training.
And also now that we are moving into sort of a new timeframe, talk about organizational development opportunity, how do we work together and continually improve on a go forward. So those are some upcoming learning as well. This sort of final slide, I think, is just in my mind, we've been in this for probably about five months globally. And quite frankly, a lot of people have probably been working in isolation for this time. And I think when we started this, I think a lot of people felt quite vulnerable.
I mean, I think people felt defenseless. I think people felt sort of powerless and thought that it would be very difficult to get over this canyon in the middle there because quite frankly, I mean, everything was shut down, I mean, everything. So I mean, in Linamar, I think, again, from a company perspective, we are focused on getting over that canyon. We believe we will get over that canyon and be able to get through it. And I think ultimately, we know we have to deliver sort of first class experiences to our customers, our employees and our shareholders.
So again, slide at the end here, tough times don't last, tough teams do. I mean, used in 2008 and 'nine. We've used it since that time when things happened, but really I think it's a pretty important slide to end off with.
Okay, great. Thanks, Jim. So we are now going to move to Q and A. I'm going hand it over back to the operator to initiate
And at this time, there are no questions in queue. I turn the call back the presenters.
Okay. Well, that was easy. It reminds me of the annual meeting we had a few years ago where the only question came from my father, our Chairman. So thank God, his hand made me up, and I'm not answering it. So thanks very much for joining us for our most unusual AGM to date.
Thank you for being there for us as our shareholders. We are certainly there for you as your Board and your management team. As we said a couple of times, tough times don't last, tough teams do. We're one tough team. We are not only lasting, but we're strengthening and coming through this stronger and ready to go than ever before.
Thanks very much. Bye bye.
Thank you. Meeting adjourned.
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you for your participation. You may now disconnect.