UPDATE 2-Linamar results hit by automaker shutdowns

* Q2 share loss C$0.75 vs EPS C$0.48

* Adjusted loss of C$0.16 a share

* Analysts had expected a loss of C$0.04 a share

* Revenue down 40 percent to C$378 million (Adds details, quote from CEO)

TORONTO, Aug 13 (Reuters) - Auto parts maker Linamar Corp (LNR.TO) reported a bigger than expected quarterly loss on Thursday, hit by "excessive production shutdowns," as well as restructuring costs and other charges.

Linamar, which makes precision components for engines and transmissions, lost C$48.4 million ($44.4 million), or 75 Canadian cents a share, in the second quarter. That compares to a profit of C$32 million, or 48 Canadian cents, a year ago.

The Guelph, Ontario-based company said it booked unusual charges of C$38.3 million after tax, including capital asset impairments, severance costs and facility amalgamation costs.

Adjusting for those charges, it lost C$10.1 million, or 16 Canadian cents a share.

Analysts had expected, on average, a loss of 4 Canadian cents a share, according to Reuters Estimates.

Sales fell 40 percent to C$378 million.

General Motors Co [GM.UL] and Chrysler (FIA.MI), two of Linamar's big customers, went into and emerged from bankruptcy protection during the quarter, and both temporarily idled production.

Many of Linamar's weaker competitors succumbed to the slump in demand, allowing it to pick up C$250 million in takeover and quick-start contracts.

"Despite the toll that excessive production shutdowns took on our sales and earnings this quarter, we are very pleased by the excellent level of cash generated," Linda Hasenfratz, Linamar's chief executive, said in a statement.

The company said it generated over C$60 million in cash in the second quarter through reductions in non-cash working capital. It also said it reduced its debt net of cash by C$100 million from Dec. 31, 2008, which will save it about C$1 million in interest for the remainder of 2009.

Linamar cut its capital investment by almost C$30 million from a year ago by shifting into its more productive plants as excess capacity opened up.

The company reported its results after market close. Its shares ended the day up 49 Canadian cents, or 3.9 percent, at C$13.09 on the Toronto Stock Exchange.

Its shares are worth about two and a half times what they were at the beginning of the year, when the fates of GM and Chrysler were uncertain.

($1=$1.09 Canadian) (Reporting by John McCrank; editing by Rob Wilson)