Lear Corporation

Company Profile

■URL

http://www.lear.com

■Address

21557 Telegraph Road, Southfield, MI 48033 USA

Business Overview

-A manufacturer operating in two distinct business segments: Seating and E-Systems (formerly Electrical). The Company has content on over 400 vehicle models worldwide.

Recent Development

-In August 2016, the Company announced that it is renaming its Electrical business segment as the "E-Systems" business segment. This name change is intended to reflect the increasing complexity of automotive electrical systems and the company's expanded electrical architecture and vehicle connectivity capabilities.

-In February 2017, the Company announced that it has signed a definitive agreement to acquire Grupo Antolin's automotive seating business. The transaction is valued at EUR 286 million on a cash and debt free basis. The closing of the transaction is expected to occur in the first half of 2017.

Competitors

Seating Segment E-Systems Segment
-Adient
-
Faurecia
-Magna International
-Toyota Boshoku
-TS Tech
-Bosch
-Continental
-Delphi
-Denso
-Harman
-Hella
-Leoni
-Sumitomo
-TE Connectivity
-Valeo
-Visteon
-Yazaki

Shareholders

-Listed on New York Stock Exchange.

Products

Seating
-Just-in-time complete seat systems
-Structure systems

  • Frames
  • StrucSures modular front and rear seat architectures

-Foam

  • Partially-renewable SoyFoam seats

-Cut & sewn automotive trim covers
-Fabrics - Guilford Performance Textiles

  • Warp knits
  • Wovens
  • Double needle bar fabrics
  • Bi-laminate constructions

-TeXstyle Enhance secondary embellishment technologies

  • High frequency welding
  • Pigment printing
  • Embossing
  • Laser etching

-Leather - Eagle Ottawa

  • Soil-prevention finished, recycled composition leather
  • Low-volatile emission leather

-ProActive Posture Seating individualized ergonomic seating system
-Mechanisms
-Headrests
-Seating related electrical and electronics (including software products)
-Seat comfort technologies - heating and cooling
-Intelligent seating solutions - INTU Seating

E-Systems
Electrical distribution systems
-Wire harness assemblies
-Terminals and connectors
-Junction boxes

  • Smart Junction Box (SJB) integrated with electronic module functionality
  • Solid State Smart Junction Box

-High power and hybrid electric systems and components

  • On-board charging systems
  • Charge cord sets
  • High voltage electrical distribution systems
  • Battery monitoring technology

Electronics
-Body control modules

  • Interior function control systems
  • Infotainment systems
  • Smart junction boxes

-Gateway modules
-Wireless systems

  • Remote Keyless Entry (RKE) systems
  • Passive Entry/Passive Start (PEPS) systems
  • Dual range/dual function remote keyless entry systems

-Lighting control modules

  • LED lighting control systems for vehicle interiors and exteriors
  • Exterior lighting modules
  • Adaptive front-light control modules
  • Adaptive LED matrix beam control modules

-Audio electronics

  • Premium audio amplifiers
  • Complete vehicle sound system

Connectivity
-Connected gateway modules with over-the-air software update capabilities
-Embedded cellular communication modules
-e-Call modules for emergency services
-On-board and roadside DSRC units for V2X communications

History

1917 Established as "American Metal Products Corporation" in Detroit, USA.
Nov. 1993 Purchased certain assets of the Plastics and Trim Products 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 Has 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.
Feb. 2017 Signed a definitive agreement to acquire Grupo Antolin's automotive seating business.

Supplemental Information 1