Talk:Lear Corporation

Updates, conflict of interest

Hello All, I am new to this and contributing from Lear. We wish to have a neutral POV and declare a conflict of interest. We just thought it would help with some footnoted updates. I'm new to this so any help would be most appreciated and thanks very much Srkaminsk (talk) 19:36, 21 February 2014 (UTC)Feb 21 2014 srkaminsk

Lear Corporation From Wikipedia, the free encyclopedia Jump to: navigation, search For the American manufacturer of business jets, see Learjet.

	This article's factual accuracy may be compromised due to out-of-date information. Please update this article to reflect recent events or newly available information. (December 2012)

Lear headquarters building Lear Corporation (NYSE: LEA), headquartered in Southfield, Michigan, USA is a Fortune 500 company, engaged in the business of manufacturing and distribution of automotive seating and electrical distribution systems. In the year 2014, the company has 221 manufacturing facilities in 36 countries across the globe, manned by 113,400 employees, and recorded an aggregate global sales of US$ $16.2 billion in 2014.[1] Lear grew during the 1980s and 1990s through a series of acquisitions. The company sought to become a supplier of complete interior automotive systems, that is, a supplier of seating, electrical, flooring, interior trim, instrument panels, etc., to OEM auto companies. Lear is composed of two major divisions: • The Seating business segment • The Electrical business segment As of late 2005, most OEM auto companies had indicated that they no longer wanted to purchase total interiors from any one company. As this was Lear's primary purpose in assembling those three divisions, and the Interior Systems Division was not profitable, the company began seeking to get rid of this division. On March 16, 1999 Lear announced it would acquire United Technologies Automotive, a subsidiary of United Technologies Corporation that produced dashboards, electrical distribution systems, motors and air-flow parts, interior door panels and switches, for $2.3 billion.[2] Lear announced on May 4, 1999, that it had completed the acquisition.[3] On April 5, 2004, Lear announced it would pay $220 million for Wuppertal, Germany-based Grote & Hartmann, a maker of electrical components.[4] On July 6, 2004, Lear announced it had completed the transaction.[5]

In early 2007, Lear Corporation completed the transfer of substantially all of its former North American Interior Systems Division to International Automotive Components Group (IAC), a joint venture of Lear, WL Ross & Co., and Franklin Mutual Advisers. The deal involved 26 manufacturing plants and two Chinese joint ventures. Lear also contributed $27 million in cash for a 25 percent interest in IAC and warrants for an additional 7 percent.[6]

Also in 2007, Lear's board of directors agreed to a $2.3 billion takeover offer from American Real Estate Partners, an affiliate of financier Carl Icahn, subject to shareholder approval. Lear has said it will continue to talk to other interested parties, however, Icahn would receive a $100 million fee should another offer be accepted. The deal was later voted down by shareholders. On July 2, 2009 Bloomberg News reported that Lear Corp. plans to file for Chapter 11 bankruptcy after reaching an agreement with representatives of secured lenders and bondholders. On November 9, 2009, Lear announced it had emerged from bankruptcy. [7] On August 10, 2011, Lear announced that senior vice president and chief financial officer Matt Simoncini had been elected chief executive officer and president, effective September 1, 2011. [8] In 2012, Automotive News awarded Lear a Premier Automotive Suppliers' Contribution to Excellence (PACE) Award for innovation, technological advancement and business performance for its Solid State Smart Junction Box™ (S3JB™), noting Lear's “S3JB junction box has 1) integrated solid state fuse technology to eliminate relays, 2) created a new package that no longer has to be accessible from the driver compartment which decreases nuisance calls and lowers electrical device warranty returns, 3) created and installed a smart software logic with detailed diagnostics to permit a "fail safe operation," and 4) designed a single state board design with patented thermal aspects that permits multiple system and device connections and various configurations to ease manufacturing processes.” [9] In its most recent acquisition, Lear acquired automotive and specialty fabrics company Guilford Mills for $257 million in May of 2012. In addition to automotive fabric applications, Guilford produces fabrics for markets including water filtration, window covering, performance apparel, medical and other industrial applications.[10] External links[edit] • Corporate website References[edit] 1. ^Form 8-K, January 31, 2014, http://edgar.secdatabase.com/892/119312514029516/filing-main.htm 2. http://www.nytimes.com/1999/03/17/business/company-news-lear-to-buy-parts-unit-of-united-technologies.html 3. http://www.prnewswire.com/news-releases/lear-corporation-acquires-united-technologies-automotive-74367312.html 4. http://www.marketwatch.com/story/lear-buying-buying-grote-hartmann-for-220-mln 5. http://www.prnewswire.com/news-releases/lear-corp-completes-acquisition-of-grote--hartmann-71184797.html 6. Jump up ^ Lear Completes North American Interior Business Joint Venture with WL Ross and Franklin Mutual, Lear Corporation Press Release, April 7, 2007 7. http://www.reuters.com/article/2009/11/09/retire-us-lear-idUSTRE5A839420091109 8. http://www.autonews.com/article/20110810/OEM10/110819997/1178 9. http://www.autonews.com/Assets/html/12_pace/winners/2012_lear_corporation.html 10. http://finance.yahoo.com/news/lear-completes-257m-deal-guilford-160422161

 Done! I reorganized a bit to add a History section in chronological order and expanded the footnotes. GoingBatty (talk) 02:03, 21 March 2014 (UTC)

Environmental

The section on environmental was pure marketing promotion. I've removed it.

There is relevant information on environmental issues that ought to be considered. For background, look at [1]. (This is background -- need reliable sources for the article.) Cinteotl (talk) 06:38, 21 May 2015 (UTC)

External links modified

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