SOUTHFIELD, MI – In a bid to vertically integrate its global seating business, Lear Corp. acquires a 75% stake in the automotive fabric business of New Trend Group Co. Ltd., a privately held Chinese company founded in 1986. Terms of the deal were not disclosed. The acquisition allows Lear, one of the world’s largest automotive seat producers, to manufacture its own fabric, rather than relying on a handful of fabric suppliers, such as Milliken & Co., Aunde Group, BMD Textiles Ltd. and ...
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