Lear to buy Peregrine’s seat, auto parts operations
SOUTHFIELD, Mich. (April 5) — Peregrine Inc., which produces seats and other auto parts for General Motors, sold its seat and door panel plant in Windsor, Ont., to Lear Corp. for an undisclosed sum.
Lear Corp., the world’s No. 1 maker of automobile seats with $9.1 billion US in sales last year, has been actively trying to consolidate suppliers to meet automaker demands for subassembly of component systems instead of individual parts. Last month, Lear bought United Technologies Corp.’s UT Automotive unit for $2.3 billion.
The Peregrine plant in Windsor, Ont., employs 1231 workers and build parts used in models such as the Chevrolet Lumina and Monte Carlo. Peregrine had sales of $420 million last year and has been selling off its divisions. Peregrine is left with a metal-stamping and plastics plant in Oshawa, Ont., and three stamping plants in Michigan.
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