Home / Knowledge / News / Textiles / Lear acquires specialty fabrics firm Guilford Mills
Lear acquires specialty fabrics firm Guilford Mills
01
Jun '12
Lear Corporation, a leading global supplier of automotive seating and electrical power management systems, has completed the acquisition of Guilford Mills, a global leader in automotive and specialty fabrics. The purchase price was $257 million.

"The acquisition of Guilford is consistent with our strategy to strengthen and grow our core businesses by expanding our component capabilities," said Matt Simoncini, Lear's President and CEO. "By acquiring Guilford, we will enhance the value, quality and level of craftsmanship that we are able to provide to our customers and increase opportunities for future business growth."

Guilford has annual sales of approximately $400 million, with 85% from automotive applications. Guilford's Automotive Division produces fabrics for a number of automotive interior applications, including seat fabric. Guilford has strong relationships with virtually all of the major global automakers including BMW, Chrysler, Ford, GM, Honda, Nissan, Toyota and Volkswagen.

Ray Scott, Lear's Executive Vice President and President, Seating added, "Guilford will provide additional technical expertise, global fabric design and manufacturing capacity to our existing world-class seat trim business."

Guilford's Specialty Products Division produces high-technology fabrics for diverse end markets including water filtration, window covering, performance apparel, medical and other industrial applications. Guilford's Specialty Products customers include GE Water and Process Technologies, Hunter Douglas, Nike and Under Armour.

Guilford has strong textile design, development and manufacturing capabilities in the United States and Europe as well as a joint venture in China. The acquisition includes twelve locations in eight countries and approximately 1,600 employees globally.

Lear Corporation is one of the world's leading suppliers of automotive seating and electrical power management systems.

Lear Corporation

Must ReadView All

Textiles | On 27th Mar 2017

Himatsingka to disinvest 100% stake in Italian subsidiary

The board of directors at Indian home textiles manufacturer and...

Courtesy: Flipkart

Apparel/Garments | On 27th Mar 2017

Flipkart bags $1bn funding at lower valuation

In a new round of funding, Flipkart, one of India's biggest ecommerce ...

Textiles | On 27th Mar 2017

CCI shows US cotton textiles at Intertextile Shanghai expo

The Cotton Council International (CCI), the global marketing arm of...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search