Lear will open seating plant in Romania
DETROIT -- Lear Corp. plans to open a seating plant in Iasi, Romania by early 2014.
The plant will serve as a cut-and-sew factory that will supply automotive seat covers to every major European automotive manufacturer, said Lear spokesman Mel Stephens.
The operation will further establish Lear's presence in Romania, with existing electrical power management and distribution facilities in Pitesti and Campulung.
Stephens said Iasi is a prime location for its capable supply chain and low cost of labor.
He declined to comment on how much the company will invest in the Iasi plant, which will employ an estimated 1,500 workers.
Lear reported a third quarter net income of $113 million on revenue of $3.9 billion, compared to net income of $121.4 million on revenue of $3.5 billion in the same quarter last year. Its seating business unit accounted for nearly 75 percent of its quarterly revenue with $2.9 billion.
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