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LEAR ANNOUNCES RECORD SALES

 LEAR ANNOUNCES RECORD SALES
 SOUTHFIELD, Mich., July 31 /PRNewswire/ -- Lear Holdings, the parent


company of Lear Seating, announced today that it will reach record sales levels in the fourth quarter and year ended June 30.
 Kenneth L. Way, chairman and chief executive of Lear, said Lear's sales are estimated at $440,000,000 in the fourth quarter, a 48-percent increase over the $298,000,000 achieved in the 1991 fourth quarter.
 Lear said sales for the 1992 fiscal year totaled $1,420,000,000, an increase of 31 percent over the $1,085,000,000 achieved in 1991.
 All figures are preliminary, Way said, and will be verified by final audited figures.
 Way attributed the sales increases to three reasons: Light vehicle market strength in Lear's fourth quarter; increased market penetration in the U.S. and Europe; and greater acceptance of Lear products by customers, both here and abroad.
 "Our operations were handicapped at the start of the year by the downturn in the economy but later benefited from the start-up of the seating for the GM Suburban and Yukon trucks, Volvo cars, and Saab in Finland. Also, we are beginning operations in our new Opel plant in Eisenach, Germany (formerly East Germany)."
 Lear recently completed a series of financial transactions which will provide an additional $54 million to finance future growth and reduce overall interest costs through long-term debt and equity.
 Lear is one of the world's leading independent manufacturers of car and light truck seats. Lear and its affiliates worldwide employ approximately 14,500 workers in 44 facilities worldwide.
 -0- 7/31/92
 /CONTACT: Tony De Lorenzo of A.G. De Lorenzo & Associates, 313-644-9150, for Lear Seating Corporation/ CO: Lear Holdings; Lear Seating Corporation ST: Michigan IN: AUT SU:


ML -- DE006 -- 5483 07/31/92 10:02 EDT
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Publication:PR Newswire
Date:Jul 31, 1992
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