Southfield-based automotive seating supplier Lear Corp. hosted a groundbreaking ceremony for its future Asia headquarters and technical center, located in the Yangpu District of Shanghai, China.
The new Asia headquarters will support more than 39,000 employees in 11 Asian countries, including more than 27,000 in China. Lear manufactures products at 67 locations throughout Asia, and has engineering teams at 16 locations throughout the region. In 2016, Lear’s sales in Asia were $5.4 billion, including sales from nine unconsolidated joint ventures in the region.
The expansion of Lear’s Asia-Pacific administrative infrastructure, engineering capability, and product innovation assets began in February. The co-location of resources at the new facility in central China is expected to grow sales throughout Asia.
“The Asia-Pacific region continues to be the largest and fastest growing region of the world. We are very pleased to be building a new regional administrative and technical center in Shanghai, as China is Lear’s fastest growing market, and our business in the Asia-Pacific region is expected to continue to grow rapidly,” says Matt Simoncini, Lear’s president and CEO. “Over the past three years, Lear’s total sales in China have grown at an average annual rate of 8 percent.”
Lear was founded in 1917 and employs more than 150,000 designers, engineers, and manufacturers in 37 countries. The company’s products can be found on more than 400 vehicle nameplates.