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Lear Corporation Finalizes Pianfei and Strapazzini Acquisitions

29 May 1998

Lear Corporation Finalizes Pianfei and Strapazzini Acquisitions 
    SOUTHFIELD, Mich., May 29 -- Lear Corporation has
completed the acquisitions of two privately held, Italian interior component
companies -- Group Pianfei S.r.L. and Strapazzini Resine S.r.L. with
headquarters in Pianfei and Pesaro, Italy, respectively.
    The two companies will be integrated into Lear's operations in Italy and
will continue to provide interior components for major automotive
manufacturers in Europe.  Both companies also have interests in firms
conducting business in Germany, Spain, Brazil, Argentina, South Africa, Turkey
and India.
    "These two transactions support Lear's strategy to increase both our
global scope as well as our technical capabilities," said Ken Way, Lear
Corporation's chairman and chief executive officer.  "Combined with our
previously announced acquisitions of the Chapman companies and the other
transactions completed during 1997, we've significantly enhanced our position
to better serve our existing customers as well as new customers."
    Pianfei, controlled by the Fulcheri family, has been in business since
1880.  Its 870 employees, located at six facilities throughout Italy, produce
door panels, headliners and plastic interior components for the Fiat Group,
BMW, Chrysler, Pininfarina and Mercedes.  The Fiat Group is its major
customer.  Pianfei is the 10th. largest independent supplier of door panels in
Europe and the fifth largest supplier of headliners.
    Strapazzini Resine, owned by Victorio Strapazzini, has 200 employees in
two Italian locations, producing door panels, sunshades, consoles, instrument
panels and pillar trim primarily to the Fiat Group and Pininfarina and
indirectly supplies Ford and Chrysler.
    Combined sales revenues for Pianfei and Strapazzini in 1997 were
approximately $130 million.
    A Fortune 500 company, Lear Corporation is one of the world's largest
automotive suppliers, with 1997 sales revenues of $7.3 billion.  The company's
world-class products are designed, engineered and manufactured by more than
54,000 employees in over 170 facilities in 26 countries.  Information about
Lear and its products is available on the Internet at http://www.lear.com.