In the driving seat Lear Corporation

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.

Lear 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.”

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.

Wayne Meyrick, Lear UK’s managing director

Mr Meyrick added, “We have built our brand to work smoothly alongside those of our clients. We are a leader in vertical integration – by carefully and cleverly engineering every element of the car seat, we have created a valuable business that delivers reliability, consistency and innovation.”

The elements of the car seat incorporate the structure system, head restraints, foam and adjusters, and the leather and fabric. This comprehensive product offer is certainly a key aspect in Lear’s ongoing success as its clients can be sure that the whole of the seat is designed and manufactured to the highest possible standards. Indeed, the standard offered by Lear meets the most stringent global safety requirements, its products and production all being in accordance with the standards of each territory in which it is active.

The role of many of Lear’s products is to reduce the weight, complexity and material costs for its customers in their automotive production. Mr Meyrick explained, “The major trend across the automotive industry for some time has been the desire to reduce the weight of the vehicle for environmental and performance purposes. Lighter vehicles use less fuel and have lower emissions, as well as being cheaper to transport. But of course excellent performance must come as standard, and that is where Lear excels. Our products are all created by automotive design engineers using the most advanced technology, so we are proud to offer exceptional products to our customers worldwide.”

Product performance

Lear’s product portfolio includes wire harnesses, smart junction boxes, terminals, connectors and selected electronics. In addition to its core applications in the automotive industry, Lear’s connectors are also utilised in different applications such as for domestic appliances, industrial open- and closed-loop controls, telecoms and home entertainment electronics.

Lear has continued its success into 2012, when it received General Motor’s Supplier of the Year award. The company has also increased its global footprint with the acquisition of North Carolina-based Guildford Mills, with a strong position in Asia. Mr Meyrick concluded, “Now that the worst of the global recession is over and activities are progressing well in our target markets of Russia, eastern Europe, Asia and Africa, as well as increasingly positive signs in North America and western Europe, we expect 2012 and beyond to yield excellent results.” n