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LEAR PURCHASES FORD SEAT OPERATIONS

 SOUTHFIELD, Mich., Nov. 1 /PRNewswire/ -- Lear Seating Corporation, a subsidiary of Lear Holdings, Inc., today completed the previously announced purchase of part of the North American automotive seating and seat trim operations of the Ford Motor Company (NYSE: F). Terms were not disclosed but sales of the purchased business are approximately $600 million annually.
 Included in the transaction are five plants located in Juarez, Mexico, having more than 1.3 million square feet of floor space and approximately 6,085 employees. The sale also includes some of Ford's seat design activities in the United States.
 The acquisition is being financed under Lear's recently completed $425 million, five year bank facility.
 Kenneth L. Way, chairman and CEO of Lear Seating, said, "This acquisition is strategic and will strengthen our North American seat business. It also will strengthen our market position and enhance our excellent partnership with Ford. It brings a fine management and manufacturing team to Lear which will help us manage our continued growth. The people and facilities will assist our continued sales growth, which has been increasing at a compounded annual rate of more than 25 percent for the past eight years."
 Lear, a Fortune 500 company and one of the world's leading independent automotive seating manufacturers, had sales of $1.76 billion for the fiscal year ended June 30, 1993. Lear will employ 18,500 workers in 561 facilities worldwide with this acquisition.
 -0- 11/1/93
 /CONTACT: Nike Feles of Lear Seating, 313-746-1515; or Judith Muhlberg of Ford Motor, 313-322-9600/
 (F)


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

ML -- DE018 -- 9222 11/01/93 14:18 EST
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Publication:PR Newswire
Date:Nov 1, 1993
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