Lear Corporation Announces Opening of a New Electronics Plant in Rabat, Morocco
RABAT, Morocco, May 17, 2011 /PRNewswire/ -- Lear Corporation (NYSE: LEA) today announced the official opening of a new electronics facility in Rabat, Morocco. Lear is a global leader in developing complete electrical power management systems for the automotive industry worldwide. Lear's knowledge of the vehicle interior and expertise in systems integration provide an advantage in designing and delivering electrical power distribution systems that support a full range of vehicle features and functions.
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The new facility in Rabat supplies industry-leading electronics such as battery chargers and gateway modules to European automakers including BMW, Renault and Volkswagen. The 14,340 square-meter facility currently houses 130 employees and will employ approximately 230 people by the end of 2011. The location of the plant enables easy shipment to the European market, which reduces travel time and costs, increases flexibility and allows for quicker response to customer preferences. The new plant is also close to other Lear European plants.
"Lear is proud to open another world-class electronics plant to support our growing Electrical Power Management Systems business segment," said Bob Rossiter, Lear chief executive officer and president. "With the increasing market need, we are focusing on expanding our core electrical power distribution and power management capabilities."
Lear Corporation is one of the world's leading suppliers of automotive seating and electrical power management systems. The Company's world-class products are designed, engineered and manufactured by a diverse team of approximately 92,500 employees at 200 facilities in 35 countries. Lear's headquarters are in Southfield, Michigan, and Lear's common shares are traded on the New York Stock Exchange under the symbol [LEA]. Further information about Lear Corporation is available at www.lear.com.
SOURCE Lear Corporation
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Posted on 5/17/2011