Lear Expands Connection Systems Business Portfolio
- Microsoft (MSFT) Near Deal to Acquire Nuance (NUAN) - Report
- S&P 500, Dow climb for third day and close at records
- Tesla (TSLA) China Numbers 'Robust' - Wedbush
- Apple (AAPL) Shares Seen as 'Attractive' as Recent Checks Show Continuously Strong Demand - Citi
Lear acquires M&N Plastics, a leader in specialized electrical distribution components
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
SOUTHFIELD, Mich., March 25, 2021 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced that it has acquired M&N Plastics, a privately owned, Michigan-based injection molding specialist and manufacturer of engineered plastic components for automotive electrical distribution applications.
The addition of M&N Plastics further increases Lear's vertical integration capabilities to engineer and produce complex parts for electrical distribution, including high-voltage wire harnesses and power electronics.
"We are pleased to welcome M&N Plastics to the Lear family. Together we share a track record of commitment to our employees, operational excellence, and exceeding the expectations of our customers," said Carl Esposito, Lear Senior Vice President and President, E-Systems. "This move bolsters Lear's position as the leading Tier 1 supplier of full architecture solutions for both electrical distribution systems and power electronics. When combined with our ongoing organic investments in connection systems, we are significantly enhancing our ability to vertically integrate engineered components, creating both a strong platform for future revenue growth and margin expansion in our overall E-Systems business segment."
M&N Plastics is headquartered in Sterling Heights, Mich., and possesses extensive industry experience and strong technical expertise across its management, engineering, administrative and other functions. The company operates two strategically located manufacturing facilities in El Paso, Texas, and Sterling Heights with state-of-the-art injection molding capabilities – enabling M&N Plastics to be a niche market leader and critical partner to its customers.
"M&N Plastics has made significant investments in manufacturing and engineering, resulting in best in-class production facilities and capabilities," said Terry Nagle, President, M&N Plastics. "We are optimally positioned to contribute to Lear's profitable growth with our industry experience and strong technical expertise in electrical distribution components."
About Lear CorporationLear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Our diverse team of talented employees in 38 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive better™ by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 166 on the Fortune 500. Lear's headquarters are in Southfield, Michigan. Further information about Lear is available at lear.com or follow us on Twitter @LearCorporation
View original content to download multimedia:http://www.prnewswire.com/news-releases/lear-expands-connection-systems-business-portfolio-301255683.html
SOURCE Lear Corporation
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Phase 3 Prevention Trial Showed 81% Reduced Risk of Symptomatic SARS-CoV-2 Infections with Subcutaneous Administration of REGEN-COV™ (casirivimab with imdevimab)
- Net asset value of EfTEN Real Estate Fund III AS as of 31.03.2021
- Sanofi va investir dans un site de production de pointe à Singapour et poursuit le renforcement de ses capacités de fabrication de vaccins