Lear Corp., a Southfield-based global automotive technology provider of Seating and E-Systems, today has purchased StoneShield Engineering, a privately held system integrator based in Castelo Branco, Portugal. Terms of the deal were not disclosed.
Founded in 2017, StoneShield Engineering specializes in the design and development of automation technology for the wire harness industry. Key areas of expertise include robotics, automated taping applications and high voltage harness assembly.
“By utilizing StoneShield’s expertise, we will accelerate the automation of our production processes throughout our E-Systems business,” says Ray Scott, president and CEO, or Lear. “We will also develop new advanced technologies for our wire harness production, further improving our efficiency and operational excellence.”
The acquisition is a component of Lear’s IDEA (Innovative, Digital, Engineered and Automated) by Lear strategy, which focuses on leveraging technology and innovation to drive operational excellence. It is part of the integration of previous acquisitions, including WIP Industrial Automation, ASI Automation, Thagora Technology SRL, and InTouch Automation.
Collectively, these acquisitions equip Lear with a portfolio of automation solutions and expertise, positioning it as a leader in the use of next-generation automotive manufacturing technologies, the company states.
In Related News: Lear reported fourth-quarter 2024 revenue of $5.7 billion, down from $5.8 billion during the same period in 2023. Full year 2024 revenue was $23.3 billion, down from $23.5 billion the previous year.
“Lear delivered solid results in 2024 despite continuing macroeconomic and industry headwinds, with both segments outgrowing the market,” Scott says. “Strong cash flow generation enabled us to return $574 million of cash through share repurchases and dividends.
The company’s Q4 2024 net income of $88 million and adjusted net income of $161 million, compared to $127 million and $177 million, respectively, in 2023. Lear reported full-year net income of $507 million and adjusted net income of $713 million, compared to $573 million and $710 million, respectively, for 2023
“Margins in E-Systems improved for the second consecutive year, and investments in automation through IDEA by Lear and footprint optimization will improve margins in both segments,” Scott says.
“In Seating, we are expanding our market share by growing with all customers, particularly the Chinese domestic automakers while our innovative solutions are reducing cost and complexity. We launched the industry’s first ComfortFlex module, combining heat, ventilation and massage, and validated the first ComfortMax Seat.”
In Other Lear News: The company announced that beginning in the second quarter of 2025, the ComfortMax Seat will be included in a General Motors product, integrating thermal comfort technologies into trim covers, providing occupant comfort and well-being, thermal management and improved manufacturing efficiency, according to Lear.
“We are honored to partner with General Motors, a company renowned for its commitment to quality and innovation, as we bring the ultimate in seating comfort and design to select GM vehicles,” Scott says. “Our ComfortMax Seat exemplifies Lear’s dedication to innovation that drives customer satisfaction while also streamlining manufacturing processes.”
