Lear Corporation to Launch Operation in Portugal
16 July 1998
Lear Corporation to Launch Operation in PortugalPALMELA, Portugal, July 16 -- Lear Corporation announced a major expansion of its European presence today, signing a contract with the Portuguese Government that will create an automotive seat trim manufacturing operation in this community near the capital city, Lisbon. The new operation could employ in excess of 4,000 people in the year 2000 and will provide product for virtually all of the European customers served by Lear. The new operations will include more than 400,000 square feet of manufacturing, engineering, and office space, built on a 30 acre site in the Palmela region. "This new program represents our first major investment in Portugal," said Terry O'Rourke, group vice president of Lear's Ford and Seat Trim Divisions. "The new venture demonstrates Lear's long term commitment to our European customers and to the region's automotive market. We plan to bring the expertise gained in our North American seat cover operations, the world's largest and most efficient in the industry, to the new operations in Palmela. We expect to consolidate current and future production of a majority of European customer requirements for automotive seat covers into this single location. We are particularly pleased with the level of support and cooperation we've received from local officials and from the Portuguese government in developing this new enterprise." A Fortune 500 Company, Lear Corporation is one of the world's largest automotive suppliers, with 1997 sales of $7.3 billion. The company's world- class products are designed, engineered and manufactured by more than 54,000 employees in over 190 facilities located in 28 countries. Information about Lear and its products is available on the Internet at http://www.lear.com.