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Honda Motor Co., Ltd. (HMC) - free report >>
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Lear (LEA) Opens Seat Manufacturing Facility in Michigan
Lear Corporation (LEA - Free Report) has opened a manufacturing facility at Flint, MI. The facility will manufacture automotive seats for one of its major customers, General Motors Company (GM - Free Report) . In over 30 years, this marks the first major construction of a supplier manufacturing facility in Flint.
The seating manufactured at the plant will serve as just-in-time delivery to the close by General Motors Flint assembly plant. Additionally, its products will be supplied at General Motors’ another plant in Fort Wayne, CA.
The new conveyor system at the hub, which is enabled with Lear’s LPS (Lear Production System), is going to check all major elements of seat manufacturing. Situated in a 156,000-sq.ft. area, the facility is expected to employ roughly 600 team members by the end of 2019. Out of the total, 400 will be newly hired employees.
Lear Corporation Price and Consensus
Lear Corporation Price and Consensus | Lear Corporation Quote
Associates of the new hub will manage their teams, including member hiring, providing quality assurance and aiding peers. The factory will focus on a top-notch team formation, structured organization and promote employee engagement.
Southfield, MI-based Lear is a leading supplier of automotive seating systems and electrical systems (E-Systems). The company caters to several major automakers in the world. However, its primary customers are automotive original equipment manufacturers (OEMs). Lear’s products are designed, engineered and manufactured by a team of around 165,000 employees, located in 39 countries.
A few other stocks in the auto space are Honda Motor Co., Ltd. (HMC - Free Report) and Allison Transmission Holdings, Inc. (ALSN - Free Report) . Honda has a long-term growth rate of 3% while Allison Transmission’s long-term growth rate is 10%.
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