IN THE DRIVING SEAT In the past 18 months, global Tier-one supplier to the automotive industry Lear Corporation has seen a considerable boost in its global market position, thanks to continued innovation and ongoing investment. Emma-Jane Batey reports.
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ear Corporation, the Michigan-based supplier of two critical systems to the global automotive industry, last spoke to Industry Europe toward the end of 2010. With its most active industry then coming out of the recession which had hit the automotive industry particularly hard, Lear UK’s managing director Wayne Meyrick was clear that the company was well-positioned and well-prepared to make the most of the approaching upturn. Thankfully today, 18 months later, Lear Corporation is enjoying a return to form, with continued investment, additional strategic acquisitions and respected industry awards all coming together to highlight just how the company excels in offering high quality products and services to its customers worldwide. Mr Meyrick said, “Many of the suppliers connected to the automotive industry have faced challenges during the economic downturn; it’s not just the car makers themselves. But we have been able to stay strong despite the difficult backdrop through continued steadfastness and a focus on maintaining the quality of our core products.”
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Lear’s strong performance can be illustrated by its 2011 sales figures of $14.1 billion. With 100,000 employees across 207 facilities in 35 countries worldwide, Lear Corporation, which is headquartered in the famous ‘Motor City’ of Detroit, Michigan and was established in 1917, is certainly globally active. Mr Meyrick continued, “In fact, we’re getting increasingly globally. When we last spoke to Industry Europe we highlighted our plans to expand our activities worldwide, particularly in Russia and Africa, and I’m pleased to say that our plans have been successfully realised.”
Brand building Publicly listed on the New York stock exchange since 1994, Lear Corporation is a Fortune 500 company. Dedicated to the design, engineering and manufacture of world-class products, the two critical systems it offers to the automotive industry are seating and electrical power management systems. Sold to ‘every major auto maker’, Lear products are seen on more than 300 vehicle nameplates worldwide.
