| Chevrolet Motor Divison Press Release | |
| General Motors and Lear
Award Corvette Seat Production To Detroit Automotive Interiors 11:14 a.m. Jan 28, 1998 Eastern SOUTHFIELD, Mich., Jan. 28 /PRNewswire/ -- Production of seats for the Chevrolet Corvette, currently built at Lear Corporation's (NYSE: LEA) seat plant in Louisville, KY, is being awarded to the Detroit Automotive Interiors (DAI) plant in Detroit effective with production of 1999 models. The move will result in 20 new jobs at DAI, a joint venture between Lear and Bing Manufacturing, located in Detroit's Empowerment Zone. "The awarding of this production to DAI will have a positive impact on both plants," said Jim Vandenberghe, president of Lear's North American Operations. "Additional employees will be hired to support production at DAI and we'll replace the Corvette seat business in Louisville with additional production which in turn will result in the hiring of new employees there." The move also supports General Motors' (NYSE: GM) goals of increased sourcing to minority suppliers and locating new business in Detroit's Empowerment Zone. "We're pleased that Lear was receptive to our request to place the business in Detroit and we believe the DAI work force will produce high- quality seats for the Corvette," said Harold Kutner, GM Vice President of Worldwide Purchasing. The fifth-generation Corvette recently was named North American Car of the Year by an independent panel of 48 automotive journalists, following its selection as Motor Trend magazine's Car of the Year for 1997. Corvette also will pace this year's running of the Indianapolis 500. Preparations are now underway at DAI to accommodate the new production. New equipment and an additional production line will be added, and employees will undergo a cumulative 4,000 man hours of training. Dave Bing, chairman of the Bing Group, said the awarding of the Corvette business to DAI is further evidence of Lear's and GM's continued support for minority-run businesses. "The companies have made commitments and are following through," Bing said. "It's very positive news for Detroit and for business in the Empowerment Zone." A Fortune 250 Company, Lear Corporation is one of the world's largest automotive suppliers, with 1996 sales of $6.2 billion. The Company's world class products are designed, engineered and manufactured by more than 50,000 employees in over 170 facilities located in 25 countries. Information about Lear and its products is available on the Internet at http://www.lear.com. SOURCE Lear Corporation. |