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 Asia, China, United States, Automotive

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

Five-axis flexibility paying off for Sepro and its customers

October 29, 2014 1:47 pm ET

French robot maker Sepro Robotique expects to generate 78 million euros ($99 million) in 2014 sales — 17 percent more than 2013 — as...    More

Image

Shale development lagging in China

October 29, 2014 1:28 pm ET

Shale gas and its impact on China was the hot topic at the FlexPO conference, held Oct. 22-24 in Shanghai.    More

Image

Schütz investing $20 million for bulk container production in Missouri

October 29, 2014 11:18 am ET

German packaging company Schütz GmbH & Co. KGaA is expanding its presence in the United States through a $20 million project in Missouri slated to...    More

Image

DSM picks Augusta, Ga., for nylon plant

October 29, 2014 11:49 am ET

Materials firm Royal DSM NV has chosen Augusta, Ga., as the site of its new North American nylon resin plant.    More

Image

Detroit Manufacturing Systems to hire 200 for F-150 production

October 29, 2014 10:40 am ET

Interior trim supplier Detroit Manufacturing Systems LLC plans to hire 200 assembly workers by January to support production growth of Ford Motor Co.'...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

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

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events