Lear Corp., a global automotive technology company based in Southfield, today announced that it has acquired Sterling Heights’ M&N Plastics, a privately owned injection molding specialist and manufacturer of engineered plastic components for automotive electrical distribution applications. Terms of the deal were not disclosed.
The addition of M&N Plastics increases Lear’s capabilities to engineer and produce complex parts for electrical distribution including high-voltage wire harnesses and power electronics.
“We are pleased to welcome M&N Plastics to the Lear family,” says Carl Esposito, president of E-Systems at Lear and a senior vice president of the corporation. “Together we share a track record of commitment to our employees, operational excellence, and exceeding the expectations of our customers.
“This move bolsters Lear’s position as the leading Tier 1 supplier of full architecture solutions for both electrical distribution systems and power electronics. When combined with our ongoing organic investments in connection systems, we are significantly enhancing our ability to vertically integrate engineered components, creating both a strong platform for future revenue growth and margin expansion in our overall E-Systems business segment.”
According to Lear, M&N Plastics possesses industry experience and technical expertise across its management, engineering, administrative, and other functions. The company operates manufacturing facilities in Sterling Heights and El Paso, Texas, with state-of-the-art injection molding capabilities, which enables it to be a niche market leader and critical partner to its customers.
“M&N Plastics has made significant investments in manufacturing and engineering, resulting in best in-class production facilities and capabilities,” says Terry Nagle, president of M&N Plastics. “We are optimally positioned to contribute to Lear’s profitable growth with our industry experience and strong technical expertise in electrical distribution components.”