Lear Corporation Announces Opening of a New World-Class Automotive Electrical Wiring Plant in Kenitra, Morocco
SOUTHFIELD, Mich., May 6, 2014 /PRNewswire/ -- Lear Corporation [NYSE: LEA], a leading global supplier of automotive seating and electrical distribution systems, today announced the official opening of a new world-class automotive facility in Kenitra, Morocco, for the manufacturing of wire harnesses. Lear is a global leader in developing complete electrical distribution systems for the automotive industry worldwide. Lear's industry-leading cost structure and expertise in systems integration provides a competitive advantage in designing and delivering electrical distribution systems that support a full range of vehicle features and functions.
The new facility in Kenitra supplies industry-leading electrical distribution systems to major European automakers. The 300,000 square-foot facility currently has approximately 1,000 employees and will employ approximately 1,700 people by the end of 2014. The new Kenitra plant will complement Lear's other facilities in Morocco that produce automotive electrical distribution systems and electronic components such as junction boxes and electronic modules as well as automotive seating, and bring Lear's total employment in Morocco to about 7,200.
"Lear is proud to open another world-class plant to support our growing electrical distribution business," said Frank Orsini, Lear senior vice president and president of the Electrical business segment. "We have been able to leverage our low-cost footprint to increase our market share and improve our margins. The new Kenitra facility will support further profitable growth of our electrical distribution business."
Lear Corporation is one of the world's leading suppliers of automotive seating and electrical distribution systems. The Company's world-class products are designed, engineered and manufactured by a diverse team of approximately 122,000 employees located in 36 countries. Lear's headquarters are in Southfield, Michigan, and Lear is traded on the New York Stock Exchange under the symbol [LEA]. Further information about Lear is available at lear.com.
SOURCE Lear Corporation
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Posted on 5/6/2014