Fifth straight year of double-digit growth for Eagle Ottawa
03/12/2014
In a statement on December 3, the company said it expected revenues of nearly $1 billion for the year and year-on-year growth of 18%. This will be the fifth straight year of double-digit growth for Eagle Ottawa.
“The global leather market continues to expand as consumers recognise the value and prestige that leather brings to an automobile,” said chief executive, Jerry Sumpter, in the statement. “We are well positioned globally to respond to that growth and to further enhance leather’s appeal with innovative offerings that make automotive interiors more beautiful, more distinctive and more functional.”
Mr Sumpter went on to say that Eagle Ottawa, which will be 150 years old next year, still expects its acquisition by automotive seat manufacturer Lear Corporation to close in the first quarter of 2015, subject to regulatory approvals.
“The Eagle Ottawa team is excited about the opportunities created by Lear’s acquisition,” he added. “The acquisition will bring our world-class leather craftsmanship face to face with the complexities of seat design, sewing and final seat assembly. This combined expertise will bring better products to address growing market demands, as consumers continue to expect higher quality and styling distinction in premium and luxury interiors.”
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