Lear Corporation Overview
Company Headquarters: US
Founded: 1917
Workforce: ~ 161,000
Company Working: Lear Corporation designs, develops, manufactures, and sells automotive seating, electrical distribution systems, and electrical components for automotive OEMs, across the world. It operates through two business segments namely, seating and E-Systems. The seating segment offers recliner mechanisms, leather and fabric products, seat trim covers, seat tracks and foams, seat structures and mechanisms for passenger car and commercial vehicles. The E-systems segment offers electrical distribution systems, electronic modules, and related components and software. It also provides vehicle connectivity hardware and software capabilities, including cybersecurity expertise that facilitates secure, wireless communication between the vehicles’ electrical and electronic systems and external networks.
The company maintains 261 locations in 39 countries, across the globe, and is traded under the name, “LEA” on the New York Stock Exchange. The major competitors of the Lear Corporation are Aptiv PLC, Continental AG, Denso Corporation, Harman International Industries, Incorporated, Hella AG, Robert Bosch GmbH, Valeo S.A., and Visteon Corporation.
Strategy
The company functions with the values of quality, efficiency, customer focus, diversity, community service, and integrity, with the philosophy of continuous improvement through outstanding teamwork. Furthermore, it focuses on strategic acquisitions and mergers with major automotive component suppliers to expand its global presence and develop competitive products. For instance, In February 2017, it acquired Grupo Antolin's seating business. It considers research and development activities in seating systems to promote better posture and cumulative wellness benefits. The company is expanding its business in Asia-Pacific for new product and technology development.
