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LEAR ANNOUNCES PURCHASE OF FORD'S MEXICAN TRIM OPERATIONS

 SOUTHFIELD, Mich., Aug. 24 /PRNewswire/ -- Lear Holdings Corporation, the parent company of Lear Seating Corporation, today announced it reached an agreement to purchase the Favesa seat trim operations from Ford Motor Company (NYSE: F).
 Kenneth L. Way, Lear's chairman, said, "Favesa's outstanding facilities, management and work force are a great strategic fit to Lear's worldwide operations."
 "The combination of Lear and Favesa will enhance the synergistic growth prospects of both companies, providing greater value to the customer and greater opportunities for all our employees," Way added.
 The transaction is expected to be completed within the next few months.
 Lear, a Fortune 500 Company and one of the world's leading independent automotive seating manufacturers, will produce over 11 million JIT seats this year. Lear employs 12,500 workers in 45 facilities worldwide and had sales of $1.76 billion for the fiscal year which ended June 30, 1993.
 -0- 8/24/93
 /CONTACT: Nick Feles of Lear Holdings Corporation, 313-746-1515; or Annette De Lorenzo of A.G. De Lorenzo Associates, Inc., 313-644-9150, for Lear Seating Corporation/
 (F)


CO: Lear Seating Corporation; Ford Motor Company ST: Michigan IN: AUT SU: TNM

KE -- DE021 -- 5468 08/24/93 13:04 EDT
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Publication:PR Newswire
Date:Aug 24, 1993
Words:198
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