· Lear completed the acquisition of Antonglin car seat business, the earnings per share will increase

According to foreign media reports, as the world's leading manufacturer of car seat and electrical systems, Lear announced on April 28, 2017 that the company has completed the acquisition of Antonglin's car seat business.
Antongin's seat business has expanded to five countries, including Europe and North Africa, with annual sales of approximately 300 million euros (US$328 million). Its business involves just-in-time seat assembly and seating. The chair structure and device, seat cover, and good European car manufacturers (including Daimler, Peugeot Citroen, Renault Nissan and Volkswagen) have established a good business relationship.
The acquisition involved a cash flow of approximately 286 million euros ($312 million) and promised “debt free basis”, which is expected to achieve 2017 earnings per share. Lear will update its 2017 financial outlook and include Antonglin's seating business when it announces its second quarter 2017 financial results on July 26.
Matt Simoncini, President and CEO of Lear, said: "Antong Lin's seat business is closely matched with Lear's business, in line with Lear's core strategy, investing in core business and accelerating growth. Providing outstanding value to shareholders. The car seat business has achieved good reputation in terms of quality and user satisfaction, and has a strong position in the European market, and cooperates with many leading customers in the industry."
Antonglin Seat has an experienced management team and modern facilities. It has always been known for its lean manufacturing, high quality and innovative ability. Its products are highly applicable and lightweight seat design. (idea).
Simoncini concluded: "We are very pleased to incorporate Antonglin's strong seat business capabilities into Lear's global seating business. This acquisition will further enhance Lear's seat business and diversify its products. Enable users to enjoy better overall value and provide additional opportunities to increase market share."
Headquartered in France, Antongin Seat Division has 12 manufacturing facilities, 2 technical centers and 2273 full-time employees and contractors.

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