Lear sets restructuring, sees $250 mln in costs

Newswire

NEW YORK, June 27 (Reuters) - Auto parts maker Lear Corp. said on Monday it has begun a global restructuring plan to improve long-term competitiveness and will incur pretax costs of up to $250 million. The initial restructuring will affect five facilities in North America and Europe as well as certain administrative functions, the company said. Lear said it sees pretax costs of about $30 million in the second quarter of 2005 from the restructuring, with a substantial portion of the ...

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