Tachi-S and Lear Corporation Form Third Joint Venture, TACLE Seating USA LLC, to Support New Business with Nissan North America
MT. JULIET, Tenn.
MT. JULIET, Tenn., March 30 /PRNewswire-FirstCall/
-- Lear Corporation (NYSE: LEA) and Tachi-S today announced they have
established a third joint venture under a master alliance formed in
July, 2003, to support business with Nissan globally. The joint
venture, TACLE Seating, U.S.A. LLC, held a groundbreaking ceremony today
to celebrate construction of a new facility in Mt. Juliet dedicated to
supplying seats to Nissan's assembly plant in Smyrna, Tenn.
The Tennessee facility is TACLE's first U.S. plant and its third
location globally. Once it is fully operational in mid-2007, the
90,000-square-foot plant will employ up to 170 people. Tachi-S
Engineering U.S.A. will hold 51% stake and Lear will hold 49% stake in
In addition to TACLE representatives, on hand for the groundbreaking
ceremony at the construction site were officials from Nissan, Lear,
Tachi-S and local government agencies.
"We're very excited about the opportunity to supply Nissan in North
America, where the company's growth in the automotive market continues
to surge," said Kousaku Tarumi, President and COO of Tachi-S Co., Ltd.
"The new building in Mt. Juliet signals Nissan's success in this region
while also enabling us to contribute to the economic vitality of Wilson
County and the State of Tennessee."
In addition to the new business with Nissan North America, Lear and
Tachi-S have two additional joint ventures to supply seats to Nissan in
Sunderland, U.K. and Guanzhou in China.
"A top priority for Lear is to diversify its business with a
strategic emphasis on expanding sales to Asian automakers," said Gideon
Jewel, president of Lear's Japanese Customer Division. "We are
committed to providing Nissan the best service, quality and interior
products available in the industry today."
Tachi-S Engineering is a wholly owned subsidiary of Tachi-S Co. Ltd.
of Tokyo, Japan. Established in 1954, Tachi-S is an automotive supplier
with 3,563 employees and 2005 sales of 183,655 million yen. Since its
founding, Tachi-S has understood that the seats in a vehicle make the
single most important contribution to driver and passenger comfort. On
the threshold of a new century, Tachi-S is determined to continue
defining automotive seating standards by setting the pace in areas as
diverse as environmental impact, quality, durability, and ergonomic
excellence. Further information about Tachi-S can be found on the
Internet at http://www.tachi-s.co.jp/ .
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: Andrea Puchalsky, Director - Corporate Communications of Lear
Web site: http://www.lear.com/
Company News On-Call: http://www.prnewswire.com/comp/518304.html
Posted on 3/30/2006