Page 38 - Lear Corp News Today

Costly microchip shortage hitting auto sector hard: What to know Maurice Tsai/Bloomberg A silicon wafer made by Taiwan Semiconductor Manufacturing Co. at the companys headquarters in Hsinchu, Taiwan. A microchip shortage that has idled several automaker plants around the globe — General Motors hit pause on production in February at three plants that are expected to remain shuttered until at least mid-March — and shifting auto supplier production is being blamed on a spending glut on consume...

Dana hires new senior vice president of global operations Rubber & Plastics News Staff Chris Clark MAUMEE, Ohio—Chris Clark has been hired as the new senior vice president of global operations for Dana Inc., a northwestern Ohio-based drivetrain and e-propulsion company. The appointment takes effect immediately, Dana said in a release. "Chris Clark brings strong international experience in managing complex manufacturing operations for Tier I mobility suppliers," said James Kamsickas, chairman ...

Adient reports positive results in strong Q1 Sales of $3.85 billion Adient Plymouth-based Adient plc reported improved earnings in its first fiscal quarter, thanks to automotive recovery throughout the second half of last year. Adient, the automotive seating supplier in the midst of a multiyear turnaround plan, swung to a net profit during its first fiscal quarter as higher margins overcame a drop in revenue. The company on Friday said it posted net income of $150 million during the quarter en...

Operator Good morning, and welcome to Lear Corporation Fourth Quarter and Full Year 2020 Earnings Conference Call. [Operator Instructions] I would now like to turn the conference over to Alicia Davis, Senior Vice President, Corporate Development and Investor Relations. Please go ahead. Alicia Davis -- Senior Vice President, Corporate Development and Investor Relations Thanks, Kate. Good morning, everyone, and thanks for joining us for Lears Fourth Quarter and Full Year 2020 Earnings Call. Pres...

9 & 10 News SOUTHFIELD, Mich. (AP) _ Lear Corp. (LEA) on Thursday reported fourth-quarter earnings of $201.6 million. The Southfield, Michigan-based company said it had net income of $3.33 per share. Earnings, adjusted for one-time gains and costs, came to $3.66 per share. The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.37 per share. The automotive seating and electrical distribution systems compan...

Up 60 percent from Q4 in 2019 Full-year sales 14 percent Lear’s E-Systems business unit grew at 11 percent above the market in 2020. Automotive electronics and seating supplier Lear Corp. reported a stronger financial performance in the fourth quarter of 2020 than a year prior, despite the ongoing COVID-19 pandemic. The Southfield-based company reported net income of $201.6 million on revenue of $5.24 billion in the quarter that ended Dec. 31, compared to income of $126 million on revenue of ...

DBusiness Magazine Miller Canfield in Detroit has announced that nine associate attorneys have joined the firm in six of its key practice groups: corporate and transactions, employment and labor, energy and environmental, financial institutions, litigation and dispute resolution, and real estate. Joanna Dreaver has joined the litigation and dispute resolution group in the firm’s Troy office. She comes to the firm after working as a contract attorney at Perdue Law Group in Grand Rapids. In 201...

Technavio Research: New Automotive On-Board Power Inverter Market Research During 2020-2024 | Market Impact Analysis | Technavio This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210121006021/en/ Technavio has announced its latest market research report titled Global Automotive On-board Power Inverter Market 2020-2024 (Graphic: Business Wire) Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the automotive o...

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Reading Time Lying Down on the Job Even as laptops have replaced typewriters, today’s desks remain flat surfaces that often encourage slouching. Bay Area startup Altwork has plowed more than $10 million and 80,000 hours of research into about 15 prototypes and 10 patents for a workstation that CEO Che Voigt says acts as an extension of the body. It consists of a dentist’s-office-style reclining seat, with an attached computer monitor stand, laptop stand and magnetic desk surface, all of whi...