Lear Corporation Announces Agreement to Construct Automotive Wiring Facility in Morocco
Historical Stock Chart
5 Years : From Feb 2011 to Feb 2016
TANGIER, Morocco, Dec. 10, 2012 /PRNewswire/ -- Lear Corporation (NYSE:LEA) today announced its new automotive wiring plant is scheduled to open in 2013 in Morocco's Amer Saflia area and create approximately 700 jobs, expected to increase significantly over upcoming years based on the projected growth in Lear's Electrical Power Management Systems business.
Lear currently operates three plants in Morocco, including two in Tangier for electrical wiring systems and automotive seating and one in Rabat, supplying industry-leading electronics such as battery chargers and gateway modules to European automakers including BMW, Renault and Volkswagen.
"Lear is proud to plan the opening of another world-class automotive electrical wiring plant as we focus on our customers' needs," said Mariano de Torres, Lear Vice President, Europe/Africa - Electrical and Electronics. "We also are pleased to be working with Morocco's MEDZ Atlantic Free Zone Investment and Fonciere Chella. As Lear grows in Morocco and around the world, our core values include operational excellence, being an employer of choice and supporting the communities where we do business."
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 110,000 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