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

North American robot sales set record

July 30, 2014 4:46 pm ET

The North American robotics sector is off to its fastest start ever, shattering last year's first-half record, with a first-half 2014 of 14,135...    More

Image

Tessy investing $10 million in new plant, infrastructure

July 30, 2014 4:57 pm ET

Tessy Plastics Corp. continues to buy factory buildings in upstate New York — acquiring a 112,000-square-foot former Honeywell building in...    More

Image

Castle Harlan buys landscape erosion control firm Tensar

July 30, 2014 3:46 pm ET

Private equity group Castle Harlan inc. has acquired Atlanta-based Tensar Corp., with plans for the geosynthetic products maker and its subsidiaries...    More

Image

DC banning PS foam containers

July 30, 2014 2:34 pm ET

Washington D.C. Mayor Vincent Gra signed into law on July 29 a bill that will ban polystyrene foam food and drink containers from the District.    More

Image

Pressure is on to replace aging gas pipes

July 30, 2014 2:47 pm ET

Polyethylene is the plastic replacement material of choice for modernizing the natural gas distribution system — so much so some are concerned a...    More

Market Reports

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

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

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

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events