April 11 Auto parts maker Lear Corp said
it agreed to buy specialty textile producer Guilford Mills from
private equity firm Cerberus Capital Management for an
Lear said Guilford, which makes fabrics for automotive and
specialty markets, has sales of about $400 million annually. The
transaction is expected to close in the second quarter of this
year, Lear said.
Cerberus Capital Management, a New York-based private equity
firm, bought Guilford Mills for $107 million in 2004.
Shares of Southfield, Michigan-based Lear closed at $43.98
on Wednesday on the New York Stock Exchange.