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LEAR ANNOUNCES RECORD SALES YEAR

 SOUTHFIELD, Mich., July 7 /PRNewswire/ -- Lear Holdings, the parent company of Lear Seating Corporation, today announced that it reached record sales for its fourth quarter and 1993 fiscal year ending June 30.
 Lear's Chief Executive Officer Kenneth L. Way said Lear's fourth- quarter sales were about $480 million, a 9-percent increase over the $441 million for the same quarter last year. Fiscal year 1993 sales were about $1,750 million, or a 23-percent increase from the $1,420 million reported for the fiscal year 1992.
 In announcing the results, Way said: "Our 12th consecutive year of record sales can be attributed to an improved North American light vehicle market as well as our continued growth in Europe, despite a bad economy there."
 Way added: "We will be opening three new plants this coming year, and with help from an improving automotive climate, our growth worldwide will continue. In addition, we will be expanding our engineering, R&D and other 'tier one' responsibilities to handle the increase in automotive seat systems being outsourced globally."
 Lear, a Fortune 500 company and one of the world's leading independent automotive seating manufacturers, will produce over 11 million seats this year. The company employs 12,500 employees with 45 facilities located in 10 countries and six states.
 -0- 7/7/93
 /CONTACT: Nick Feles of Lear Seating, 313-746-1515; or Annette DeLorenzo of A.G. DeLorenzo Associates, Inc., 313-644-9150, for Lear Seating/


CO: Lear Seating Corporation; Lear Holdings ST: Michigan IN: AUT SU:

ML -- DE018 -- 9146 07/07/93 15:02 EDT
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Publication:PR Newswire
Date:Jul 7, 1993
Words:256
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