Lear opens Asia headquarters in Shanghai

AUTOMOTIVE NEWS CHINA

Published: March 27, 2014 9:08 am ET
Updated: March 27, 2014 9:11 am ET

Related to this story

Topics Automotive, United States, China, Asia

SHANGHAI — Lear Corp. opened its new Asian headquarters and regional technical center March 12 to support its fast-growing business in the region.

The headquarters will support 21,000 employees in 11 countries, including almost 11,000 in China, Lear officials said.

Lear, based in Southfield, Mich., produces auto seats and electrical distribution systems. The Shanghai facility will support R&D for both product groups.

Lear has 60 factories and 10 technical centers in Asia. Of those facilities, 36 plants and two engineering centers are in China.

Asia is Lear's fastest growing region, with sales of $4.5 billion last year.

Over the past three years, Lear's sales in China have grown at an average annual rate of 24 percent, said Lear CEO Matt Simoncini.

He expects his company's China sales to maintain more than 20 percent growth during the next few years.


Comments

Lear opens Asia headquarters in Shanghai

AUTOMOTIVE NEWS CHINA

Published: March 27, 2014 9:08 am ET
Updated: March 27, 2014 9:11 am ET

Post Your Comments


Back to story


More stories

Image

American Renolit sees steady gains in the film market

September 16, 2014 11:51 am ET

American Renolit Corp. has changed its product mix, changed its customer base and managed to grow in a market that was initially skeptical about the...    More

Image

Increased capacity in the US helps Zeon Chemical supply seals globally

September 16, 2014 9:46 am ET

The automotive industry continues to be one of the driving forces of Zeon Chemicals LP., which specializes in heat-resistant and oil-resistant...    More

Image

US plastics machinery market still gaining strength in second quarter

September 15, 2014 5:01 pm ET

U.S. plastics machinery shipments in the second quarter continued to outperform activity in 2013, according to data from Society of the Plastics...    More

Image

Toy supplier sues maker in reshoring fight

September 15, 2014 3:18 pm ET

An Arkansas toy supplier is suing a Taiwan-based manufacturer for breach of contract and other civil allegations in a legal dispute that not only...    More

Image

Primex finds success among diverse product offerings

September 15, 2014 3:09 pm ET

What was once a run-down stretch of road in Richmond, Ind., has given way to building after building of extrusion machinery at Primex Plastics Corp. t...    More

Market Reports

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events