Lear company (NYSE: LEA), a foremost international dealer of automotive places and electrical systems, newly confirmed that it has signed an ultimate concurrence to obtain Grupo Antolin’s auto motive spaces business.
Grupo Antolin’s places commerce is head quarters in France with sales and operations determined in five countries in Europe. Grupo Antolin’s places business is comprised of just in time seat assembly, seat structures & mechanisms and seat spruce, and is well situated between the foremost European automakers including Peugeot Citroen, Daimler, Renault Nissan and Volkswagen. Grupo Antolin’s seating business is an experienced management group, current services and a standing for lean industrialized, better superiority and improvement, including high functionality and light weight seat designs.
The operation is valued at €286 million on a cash and debit free basis. Lear intends to support the business deal with cash on hand.
The closing of the business is predictable to occur in the first half of 2017 subject to expected situation, including authoritarian approvals in Europe. Lear anticipates the business to be accretive to 2017 income per share upon closing.
“The achievement of Grupo Antolin’s places business in Europe is another important step in intensification our core seating commerce by additional diversifying our global seating sales, increasing our seat component capabilities and accelerating beneficial sales enlargement,” said Matt Simoncini, Lear’s leader and CEO.
“This transaction will further improve Lear’s position as a global leader in automotive seating and will create note worthy value of our shareholders.”
Grupo Antolin’s seating commerce has annual sales of about €300 million and includes twelve industrialized services, two technical centers and 2,273 full time and agreement workers.


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