Lear Corporation
Company Profile
Business Overview
-The Company supplies seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to all of the world's major automotive manufacturers.
-Its business is organized under two reporting segments: Seating and E-Systems. Each of these segments has a varied product and technology range across a number of component categories:
- Seating
- Design, development, engineering, just-in-time assembly and delivery of complete seat systems
- Design, development, engineering and manufacture of all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests
- Active sensing, safety, connectivity, user experience and comfort for seats, utilizing electronically controlled systems and internally developed algorithms
- E-Systems
- Design, development, engineering and manufacture of complete electrical distribution systems
- Sophisticated electronic control modules, electrification products and connectivity products
Competitors
| Seating Segment | E-Systems Segment |
| -Adient -Faurecia -Magna International -Toyota Boshoku -TS Tech -Yanfeng |
-Aptiv -Bosch -Continental -Denso -Harman -Hella -Leoni -Molex -Sumitomo Electric Industries -TE Connectivity -Valeo -Visteon -Yazaki |
-In October 2021, Lear entered into a definitive agreement to acquire substantially all of Kongsberg Automotive's Interior Comfort Systems business unit for approximately EUR 175 million. The acquisition is expected to close in the first quarter of 2022.
Shareholders
-The Company is listed on the New York Stock Exchange.
Products
Seating
-Complete Seats
-Seat Covers
-Eagle Ottawa Leather by Lear
-Guilford Performance Textiles by Lear
-Foam & Comfort
-Structures & Mechanisms
E-Systems
-Wire Harnesses
-Connection Systems
-Integrated Power Module
-Smart Junction Boxes
-Body Domain Controllers
-EXO High Accuracy Positioning
-Audio Domain Controllers
-Exterior Lighting Control
-Advanced Software
-Wireless Vehicle Access
-Cybersecurity
-Power Distribution Boxes
-Lear Virtual Proving Grounds
-Intu Seat systems
-BioBridge
-ProActive Comfort
-Modular Heat & Cool
-SoundZone
-Lear ConnexUs
- V2X technology
- Gateways
- Communication Modules
History
| 1917 | Established as "American Metal Products Corporation" in Detroit, USA. |
| Nov. 1993 | Purchased certain assets of the Plastics and Trim Products Division of Ford Motor Co. that supply seat trim and trimmed seat assemblies to Ford. |
| Dec. 1993 | Merged with parent company, Lear Holdings Corporation, to form new entity. |
| Dec. 1994 | Acquired SEPI S.p.A. from Gilardini S.p.A. |
| Jun. 1995 | Acquired approximately 97% of Masland Corporation. Formed a joint venture, Lear Seating Inespo Industrial Do Brasil L.T.D.A. in Brazil. |
| Aug. 1995 | Acquired Automotive Industries Holding, Inc. |
| Oct. 1995 | Formed a joint venture, Lear Seating Do Brasil in Brazil. |
| Dec. 1996 | Acquired Borealis Industrier AB, a western European supplier of instrument panels, door panels and other automotive components, from Borealis Holding AB. |
| Jun. 1997 | Acquired Dunlop Cox Limited. |
| Jul. 1997 | Acquired certain equity and partnership interests in Keiper Car Seating GmbH & Co. and certain of its subsidiaries and affiliates. |
| Aug. 1997 | Acquired the Automotive Seat Sub-Systems Unit of ITT Automotive. |
| Sep. 1998 | Acquired the seating business of Delphi Automotive Systems. |
| Feb. 1999 | Acquired Polovat and the automotive business of Ovatex. |
| Apr. 1999 | Purchased certain assets of Peregrine Windsor, Inc., a division of Peregrine Incorporated. |
| May 1999 | Acquired UT Automotive Inc., a wholly-owned operating segment of United Technologies Corporation. |
| Jun. 1999 | Sold Electric Motor Systems (EMS) to Johnson Electric Holdings Limited. |
| Sep. 1999 | Purchased Donnelly Corporation's 50% interest in Lear-Donnelly Overhead Systems, L.L.C., the joint venture in which the two suppliers had been partners. |
| May 2000 | Formed a joint venture with Motorola, Inc. |
| Jun. 2000 | Sold its sealants and foam rubber business to AcoustiSeal. |
| Nov. 2000 | Formed Total Interior Systems - America, a joint venture with Takashimaya Nippatsu Kogyo Co., Ltd. |
| Dec. 2000 | Sold four European plastic and metal manufacturing facilities. |
| 2000 | Sold its interests in North American Interiors, L.L.C., Pianfei Glass S.A., Autoform Kunstoffteile GmbH and Autoform Kunstoffteile GmbH & Co. KG. |
| Feb. 2002 | Formed a comprehensive business partnership with Mitsubishi Cable Industries, Ltd. in the automotive wire harness business. |
| Apr. 2002 | Announced the formation of Nanjing Lear Xindi Automotive Interiors System Co., Ltd. (Lear Xindi), a joint venture with the Xindi subsidiary of Yuejin Motor Group Corporation. |
| 2006 | Decided to exit the interior business and completed the divestiture of European interior business. |
| Mar. 2007 | Completed the divestiture of its interior business. |
| Jul. 2009 | The Company, along with certain U.S. and Candian subsidiaries, filed for Chapter 11 bankruptcy protection. |
| Nov. 2009 | The Company emerged from Chapter 11 bankruptcy protection. |
| May 2012 | Acquired Guilford Mills, a manufacturer of fabrics for the automotive and specialty markets. |
| Jan. 2015 | Acquired Eagle Ottawa, a manufacturer of automotive leather, for USD 850 million. |
| Aug. 2015 | Acquired intellectual property and technology from Autonet Mobile, a developer of software and devices for automotive applications. |
| Nov. 2015 | Acquired Arada Systems, an automotive technology company which focuses on V2V and V2I communications. |
| Dec. 2016 | Acquired AccuMED Holdings Corp., a privately-held developer and manufacturer of specialty fabrics. |
| Apr. 2017 | Completed acquisition of Grupo Antolin’s seating business for EUR 286 million. |
| Dec. 2017 | Entered agreement to acquire EXO Technologies, a GPS technology specialist which provides high-accuracy solutions for autonomous and connected vehicle applications. |
| Jan. 2018 | Completed acquisition of EXO Technologies. |
| Apr. 2019 | Acquired Xevo Inc., a supplier of software solutions for the cloud, vehicles and mobile devices. |
| Mar. 2021 | Acquired M&N Plastics, an injection molding specialist and manufacturer of engineered plastic components for automotive electrical distribution applications. |
Supplemental Information 1
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Archives of Past Exhibits
Note: A figure in brackets ( ) indicates a loss