Lear Corporation to Build Seats in Russia
9 June 1998
Lear Corporation to Build Seats in RussiaSULZBACH, Germany, June 9 -- Lear Corporation has signed an agreement with Russian automotive producer Gaz to take over that company's seat production at its facilities in Nizhny Novgorod, Russia. Effective today, Lear will assume management responsibility for seat production for the Gaz Volga in Nizhny Novgorod at a facility in the Gaz manufacturing complex. Lear's investment in the complex will be $2 million and the company also will bring its interiors technology to the venture. Annual production of the Volga is estimated at 125,000 units. The Gaz complex is located approximately 400 kilometers east of Moscow. "Lear's involvement in the Gaz complex marks the first time an outside supplier has participated in the Gaz complex," said Robert E. Rossiter, president and chief operating officer of Lear's International Operations. "This venture in the Russian market provides strong potential for future growth. While our initial production will be focused on seats, we also see an opportunity to produce other interior components for Gaz," Rossiter said. Robert Mydzian has been appointed general manager of the new Lear facility. He joined Lear in May 1997 after serving as general manager of the American Automotive Co., in Kiev, Ukraine. A native of Buffalo, New York, Mydzian is a graduate of Syracuse University with a degree in aerospace engineering and holds a master of business administration degree from Canisius College, also in New York. 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 located in 26 countries. Information about Lear and its products is available on the Internet at http://www.lear.com.