Eagle Ottawa purchase a great addition, says Lear
27/07/2015
Sales of $4.6 billion were 1% higher than the year-ago period, with the group negatively impacted by foreign exchange.
CEO Matt Simoncini said: “Adding Eagle Ottawa was a great addition to the Lear component capabilities. It allows us to provide the best craftsmanship on the seat covers, which drives a lot of values. I think uncertainty in a marketplace and a competitive position is always great for somebody that's stable, and knows where they're going, and where they're going to be, and has a certainty in investment.”
Excluding the impact of foreign exchange, sales increased by 12%, reflecting the acquisition of Eagle Ottawa, the addition of new business and higher production.
The group, which bought Eagle Ottawa in August 2014, employs 132,000 at 235 facilities in 34 countries.
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