Full Description

Lear Corporation (Lear), incorporated in 1987, is a global tier I supplier of automotive seat systems, electrical distribution systems and electronic products with a global footprint that includes locations in 36 countries worldwide. The Company business is focused on providing complete seat systems and the components thereof, as well as electrical distribution systems and electronic products, and the Company supply every automotive manufacturer in the world. In 2008, the Company's sales comprised vehicle categories, such as 65% cars, including 28% mid-size, 22% compact, 13% luxury/sport and 2% full-size, and 35% light truck, including 21% sport utility/crossover and 14% pickup and other light truck. The Company conducts its business in two product operating segments: seating and electrical and electronic. The electrical and electronic segment includes electrical distribution systems and electronic products, primarily wire harnesses, junction boxes, terminals and connectors, various electronic control modules, wireless systems and high voltage components, as well as audio sound systems and in-vehicle television and video entertainment systems. In April 2009, The Furukawa Electric Co., Ltd. acquired interests in Lear Furukawa Corp. from Lear Corporation. As of April 22, 2009, The Furukawa Electric Co., Ltd. owned 80% interest in Lear Furukawa Corp. On July 7, 2009, Lear and certain of its United States and Canadian subsidiaries filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York.

Seating

The seating segment consists of the manufacture, assembly and supply of vehicle seating requirements. The Company produces seat systems for automobiles and light trucks that are fully assembled and ready for installation. In many cases, seat systems are designed and engineered for specific vehicle models or platforms. The Company developed Lear Flexible Seat Architecture, whereby the Company utilize base design concepts to build a program-specific seat, incorporating the latest performance requirements and safety technology, in a shorter period of time, thereby assisting its customers in achieving a faster time-to-market. Seat systems are designed to achieve maximum passenger comfort by adding a range of manual and power features, such as lumbar supports, cushion and back bolsters and leg supports. The Company also produces components that comprise the seat assemblies, such as seat structures and mechanisms, cut and sewn seat trim covers, headrests and seat foam. The Company also supply a patented integrated restraint seat system that uses an ultra high-strength steel tower and a split-frame design to improve occupant comfort and convenience, as well as a high-performance climate system for seat cooling and moisture removal.

The Company competes with Johnson Controls, Magna International Inc., Faurecia, TS Tech Co., Ltd. and Toyota Boshoku.

Electrical and Electronic

The electrical and electronic segment consists of the manufacture, assembly and supply of electrical and electronic systems and components for the vehicle. The Company is able to provide its customers with engineering and design solutions and manufactured systems, modules and components that optimally integrate the electrical distribution system of wiring, terminals and connectors, junction boxes and electronic modules within the overall architecture of the vehicle. This integration can reduce the overall system cost and weight and improve the reliability and packaging by reducing the number of wires, terminals and connectors normally required to manage the vehicle’s electrical power and signal distribution. Electrical and electronic products can be grouped into four categories; Electrical Distribution Systems, Smart Junction Boxes and Body Control Modules, Wireless systems and Specialty Electronics.

Wire harness assemblies are a collection of terminals, connectors and wires that connect all of the various electronic/electrical devices in the vehicle to each other and/or to a power source. Terminals and connectors are components of wire harnesses and other electronic/electrical devices that connect wire harnesses and other electronic/electrical devices. Smart junction boxes are junction boxes with integrated electronic functionality often contained in other body control modules. Smart junction boxes eliminate interconnections, overall system reliability and can reduce the number of electronic modules in the vehicle. Body control modules control various interior comfort and convenience features. These body control modules may consolidate multiple functions into a single module or may focus on a specific function or part of the car interior, such as the integrated seat adjuster module or the integrated door module. Wireless products send and receive signals using radio frequency technology. Its wireless systems include passive entry systems, dual range/dual function remote keyless entry systems and tire pressure monitoring systems. Its lighting control module integrates electronic control logic and diagnostics with the headlamp switch. Entertainment products include sound systems, in-vehicle television tuner modules and floor-, seat- or center console-mounted Media Console with a flip-up screen that provides DVD and video game viewing for back-seat passengers.

The Company competes with Delphi, Yazaki, Sumitomo, Leoni, Alps, Bosch, Cherry, Continental, Delphi, Denso, Kostal, Methode, Niles, Omron, TRW, Tokai Rika, Valeo and Visteon.