About LEAR

Lear Corporation is one of the world's largest suppliers of automotive interior systems and components. Lear provides complete seat systems, electronic products and electrical distribution systems and other interior products. With annual net sales of $17.1 billion, Lear's world-class products are designed, engineered and manufactured by a diverse team of 115,000 employees at 286 locations in 34 countries.

Lear is ranked No. 127 on the 2005 Fortune 500 list of publicly traded U.S. companies. Lear's headquarters are in Southfield, Michigan, and Lear is traded on the New York Stock Exchange under the symbol [LEA].

Simply stated, our strategy is to put our customers first and to continuously improve our quality and overall financial results.

LEAR HISTORY

Lear Corporation is one of the world's largest suppliers of automotive interior systems and components. Lear provides complete seat systems, electronic products and electrical distribution systems and other interior products. With annual net sales of $17.1 billion in 2005, Lear ranks #127 among the Fortune 500. The company's world-class products are designed, engineered and manufactured by a diverse team of 115,000 employees at 286 locations in 34 countries.

THE EARLY YEARS

Lear was founded as American Metal Products in Detroit, Mich., on August 24, 1917. The company began operations as a single plant with 18 employees manufacturing tubular, welded and stamped steel assemblies for the aircraft and automotive industries. Its first major automotive customers were Ford Motor Company and General Motors Corporation.

By the early 1930s, American Metal Products had added Chrysler and International Harvester as customers and by 1939, the company had broken the $1 million sales mark. By the end of 1941, the company had 12 customers - seven automotive manufacturers and five automotive parts suppliers - and approximately 900 employees.

During the World War II period of 1944-1947, all non-military automotive and truck manufacturing was suspended and American Metal Products converted production to military airplane assemblies and parts as well as axle housings for military trucks. After the war, the company continued a strong growth pattern and expanded its customer base to the Canadian automotive industry with the purchase of General Spring Products of Ontario in 1954.

Growth in the trucking industry in the 1960s prompted American Metal Products to invest $7 million in an automated process for manufacturing truck-axle housings. The new program earned a story in Newsweek magazine entitled, "How to Put Steam in American Business."

Expansion Overseas; Introduction of the Lear Name

In 1961, the company's expansion extended to Europe in its first successful bid in the overseas market with Fiberglide bearings. In 1963, the purchase of the No-Sag Spring Company was the most important acquisition of the decade for America Metal Products, adding 22 new plants in the United States, Canada, Europe and Latin America as well as eight licensee companies overseas. With its expansion abroad, the company had become the sole manufacturer of truck and furniture seating on a worldwide basis.

The Lear company name dates to 1964, when American Metal Products merged with Lear Siegler, Inc. creating the nation's largest independent supplier of automotive seat assemblies. Lear Siegler was formed two years prior when Lear Inc. founder William Lear sold the automotive radio and electrically operated actuating systems company to The Siegler Corporation after failing to convince his business colleagues to branch off into the passenger jet business.

Lear Siegler became a multi-market corporation with 47 divisions and subsidiaries grouped into six major areas: avionics, fabricated products, commercial electronics, climate control, power equipment and systems & services. By 1967, it maintained 92 facilities in 27 states and 16 foreign countries.

By: Analee Javellana / YAS CEBU