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Lear Corporation Announces Major Investment in France

Lear Corporation Announces Major Investment in France

    OFFRANVILLE, France, July 10 Lear Corporation
today announced a major investment at a facility in Offranville, France,
preserving jobs in Normandy and further supporting the company's strategy of
internal growth.
    The 12,000-square meter Offranville facility will make door panels for a
future model to be introduced by a major European automaker this fall.  Lear
worked closely with government authorities and dedicated resources to spare
more than 200 jobs in Offranville following a decision last year to relocate
wire-harness production to countries in Europe with lower costs.
    The announcement was made in conjunction with the official signing of an
agreement between Lear and French authorities related to the rehiring and
training of workers for the Offranville facility, which is expected to reopen
in late October.
    "Lear prides itself as being a company that whenever possible, finds
alternatives for its workers instead of closing plants," said Bob Rossiter,
Lear President and Chief Executive Officer.  "This region is vital to our
global business strategy and Lear is grateful for the dedication and support
of the French people.  We are excited by the significant opportunities to
expand our door-panel business with other automakers in the region."
    Lear currently has four facilities in France that employ more than 1,000
people, including just-in-time seating operations in Cergy and Lagny le Sec
and an administrative and technical-support facility in Garches.  Lear France
had 2000 sales of more than $130 million and sales in the region are expected
to triple over the next few years.
    "We are enthused about Lear's future potential in France and we are
pleased to extend our support for the Offranville project," said Bruno
Fontenaist, Prefet of High Normandy and Seine Maritime.
    Through its more than 80 locations and 32,000 employees in Europe, Lear
currently supplies every major vehicle manufacturer in the region, the world's
second-largest automotive market.
    Lear Corporation, a Fortune 150 company headquartered in Southfield,
Mich., USA, focuses on automotive interiors and electronics and is the world's
fifth-largest automotive supplier.  Sales in 2000 were $14.1 billion.  The
company's world-class products are designed, engineered and manufactured by
over 100,000 employees in more than 300 facilities located in 32 countries.
Information about Lear and its products is available on the internet at
http://www.lear.com .