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LEAR DOUBLE-DIGIT GROWTH CONTINUES

 LEAR DOUBLE-DIGIT GROWTH CONTINUES
 SOUTHFIELD, Mich., Oct. 14 /PRNewswire/ -- Lear Holdings, parent


company of Lear Seating Corporation, today announced it has won more new business and had record first-quarter sales.
 Kenneth L. Way, chairman, today announced that Lear has received a letter of intent to develop and supply seats for the new BMW two-seat sport car to be built in Spartanburg, S.C., starting in 1994. In addition, Way announced the expansion of its Lorain, Ohio, facility, which supplies complete seating systems. The production capacity of the Lorain plant has been tripled to meet the requirements of new business recently received from its customers.
 "The award of the BMW business and the expansion of our Lorain facility once again demonstrates that Lear is an industry leader in technology, innovation and customer service," Way said. "The continuous drive by our customers to lower costs worldwide has fueled our growth."
 In addition, Lear announced record fiscal year 1993 first-quarter sales of $358.6 million, a 27-percent increase over the sales achieved in 1992 for the similar period, ending Sept. 30.
 "The sharp increase in our first-quarter sales is due to our rapid growth in Europe, where sales increased 170 percent over the same quarter last year," said Way. "Lear is starting up two new JIT plants in Europe this quarter. Our facilities in Europe are serving Opel, SAAB, Volvo, Ford, Chrysler, BMW, VW, Audi, Renault, and Peugeot vehicle-assembly plants," he added.
 Lear Seating Corporation is the world's leading independent seat system manufacturer. Lear employs 14,500 employees in 44 facilities worldwide. Sales for its fiscal year ending June 30 were $1.4 billion.
 -0- 10/14/92
 /CONTACT: Tony De Lorenzo of A.G. De Lorenzo & Associates, 313-644-9150, for Lear Seating Corporation/ CO: Lear Seating Corporation ST: Michigan IN: AUT SU:


DH -- DE010 -- 9737 10/14/92 09:47 EDT
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Publication:PR Newswire
Date:Oct 14, 1992
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