Home / Knowledge / News / Textiles / Lear to maintain the New Trend Automotive Fabric Business
Lear to maintain the New Trend Automotive Fabric Business
14
Jun '08
Lear Corporation announced that it has entered into agreements to acquire a 75% share of the automotive fabric business of New Trend Group Co., Ltd. (New Trend Group), a privately held company founded in 1986 which produces automotive interior fabric and commercial plastic goods. Financial terms of the agreement were not disclosed.

The acquisition of a majority stake in New Trend Group's automotive fabric business is consistent with Lear's strategy to selectively increase the level of vertical integration for its Seating business. New Trend's seat trim fabric operations provide Lear an opportunity for low-cost fabric supply to its existing cut and sew capabilities as well as offering the potential for incremental sales growth as a fabric supplier to a broad range of automotive manufacturers. Other partnerships in the area of seat trim are presently being evaluated by Lear.

"Following our successful launch of the Aventino Collection of premium leather last fall, Lear was looking for additional opportunities to further vertically integrate seat trim into our core product portfolio," said Lou Salvatore, Lear Senior Vice President and President of Global Seating Operations. "The production of additional trim options such as flat-woven materials and knits provides Lear the opportunity to offer our customers a wider range of seat trim options and improve overall seating system value."

New Trend is a leading supplier of trim to the China automotive marketas well as an exporter to Europe and the U.S. through its two automotive textile manufacturing facilities in China. The company produces fabric used for seat covers, vehicle headliners and automotive door panels and carpet for GM, VW, Ford, China Brilliance, Toyota, Nissan, Hyundai, Chery and Geely vehicles, predominantly in China.


Must ReadView All

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marten Alkhagen
Swerea IVF AB

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

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

Bani Batra

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

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search