Lear Honored by General Motors as a Supplier of the Year
SOUTHFIELD, Mich., May 1 /PRNewswire-FirstCall/
-- Lear Corporation (NYSE: LEA) was named as a General Motors Supplier
of the Year for its overall business performance in providing GM with
world-class parts and services. The award was given during a ceremony
on April 29 at GM's Vehicle Engineering Center at the General Motors
Technical Center in Warren, Mich.
"We consider Lear to be a role model for all suppliers. They are
recognized as a GM Supplier of the Year because they exceeded our
expectations in 2005," said Bo Andersson, vice president of Global
Purchasing and Supply Chain. "Lear is one of the best in the world and
we thank them for their hard work and commitment to helping make GM
vehicles the best in the world."
Lear was named Supplier of the Year for delivery of seating products.
Earlier this year, Lear announced it had achieved a 6% improvement in
automotive seat quality based on the J.D. Power and Associates' 2005
Seat Quality Report™, an analysis of consumer experiences with the
quality, design and features of their automotive seats. Lear's quality
ranking was better than any other high-volume manufacturer in North
America for the fifth consecutive year.
Lear supplies seating for 17 General Motors car platforms and 12
truck platforms. Lear's continued support to GM in the execution of
cost reduction opportunities in the area of seating, along with its
focus on quality and customer satisfaction contributed to its selection
as part of this elite group.
"This award demonstrates Lear's ability to meet the highest standards
of our customers with superior quality products as well as innovative
and cost- effective solutions," said Bob Rossiter, Lear chairman and
chief executive officer. "Our commitment to customer satisfaction is
central to the Lear philosophy and a never-ending process."
The GM Supplier of the Year award began as a global program in 1992.
Winners are selected by a global team of executives from purchasing,
engineering, manufacturing and logistics who base their decisions on
supplier performance in quality, service, technology and price.
Lear Corporation is one of the world's largest suppliers of
automotive interior systems and components. Lear provides complete seat
systems, electronic products and electrical distribution systems and
other interior products. With annual net sales of $17.1 billion, Lear
ranks #127 among the Fortune 500. The Company's world-class products
are designed, engineered and manufactured by a diverse team of 115,000
employees at 282 locations in 34 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 on
the Internet at http://www.lear.com/ .
SOURCE: Lear Corporation
CONTACT: Investor Relations: Mel Stephens, +1-248-447-1624, Media:
Andrea Puchalsky, +1-248-447-1651, both of Lear Corporation
Web site: http://www.lear.com/
Company News On-Call: http://www.prnewswire.com/comp/518304.html
Posted on 5/1/2006