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Lear Corporation Opens New Leather Cutting Plant in Szolnok, Hungary

April 21, 15:00 UTC+3
1 pages in this article

SOUTHFIELD, Michigan, April 21, 2016 /PRNewswire/. Lear Corporation (NYSE: LEA), a leading global supplier of automotive seating and electrical distribution systems, today held the official opening of its new leather cutting plant in Szolnok, Hungary. Szolnok Mayor Mr. Szalay and Mr. Mihály Varga Minister of National Economy represented the Government and Lear was represented by Kent Maas (Vice President, Global Manufacturing) and John Staines (European Operations Director).

Logo - http://photos.prnewswire.com/prnh/20110307/DE59731LOGO

The new plant was completed in December 2015 and is located in the Szolnok industrial park opposite an existing leather production facility which was built in 2004. The construction of this new facility represents an investment of $20 million Euros and with an area of 16,000 square meters, it doubles the production space available. As part of the Eagle Ottawa division of Lear, it supplies leather parts to many premium automotive manufacturers in Europe. Both plants combined employ over 2,000 people and is the largest private employer in the region.

"As the global leader in automotive performance and luxury seating, Lear continues to build upon our unique industry-leading capabilities and emphasis on world-class craftsmanship. With our continued growth, We are pleased to invest and expand our production capacity in Szolnok, Hungary. I would like to thank the people who worked on this complex project. I am very proud of our dedicated team and the support we receive from the local Government and community," said Lear's Ray Scott (Executive Vice President and President, Seating).

Created in 1865, the Eagle Ottawa division of Lear has a longstanding heritage of blending traditional craftsmanship and innovative technology. Eagle Ottawa designs, engineers and manufactures genuine leather solutions for all automotive interior applications and vehicle market segments. Eagle Ottawa's leather capabilities include design, research & development, product validation and manufacturing (finishing, cutting and sewing).

With the completion in January 2015 of the acquisition of Eagle Ottawa, Lear Corporation is the world's leading supplier of premium automotive leather, with enhanced global seating capabilities in the areas of craftsmanship, design options and overall value.

Lear Corporation (NYSE: LEA) is one of the world's leading suppliers of automotive seating and electrical distribution systems. Lear serves every major automaker in the world, and Lear content can be found on more than 350 vehicle nameplates. Lear's world-class products are designed, engineered and manufactured by a diverse team of approximately 136,000 employees located in 36 countries. Lear currently ranks #174 on the Fortune 500. Lear's headquarters are in Southfield, Michigan. Further information about Lear is available at http://www.lear.com.

CONTACT: Mel Stephens, 248-447-1624

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