U.S.' s Leading Auto Interior Supplier Lear to Find Partners in Taiwan

Taipei, March 29, 2006 (CENS)--Lear Corp. of the U.S., one of the world's largest suppliers of automotive interior systems and components, will look for about 10 qualified suppliers in Taiwan for joint development of business opportunities in mainland China, according to the Taiwan External Trade Development Council (TAITRA).

In addition, TAITRA said, leading international tier-one auto-parts maker Bosch has also stated its intention to hold a procurement-policy introduction seminar soon in Taiwan.

According to TAITRA, Lear will commission Mike Fawaz, Lear's vice president of electronics, to visit the coming Taipei International Automobile Electronics Show (AutoTronics Taipei 2006, to be held April 17-20) for talks with local automotive-electronics makers for possible cooperation projects.

For the first-ever AutoTronics Taipei show, TAITRA has mobilized all of its available resources to invite well-known buyers to visit the event. More than 10 large international buyers have promised to visit the automotive-electronics fair, TAITRA said.

Lear provides complete seat systems, electronic products, electrical distribution systems, and other interior products. With annual net sales of US$17.1 billion, Lear ranks No. 127 among the Fortune 500 companies. 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's headquarters are in Southfield, Michigan. The company's major customers include carmakers such as DaimlerChrysler, Mitsubishi, Ford, and GM, as well as tier-one parts makers Delphi, Metaldyne, and Visteon.

TAITRA pointed out that Lear's initial plan is to find partners in enterprises in Taiwan, and then gradually develop joint-venture partnerships in mainland China. According to Lear's qualifications for partners, companies must have annual revenue between US$25 million and US$40 million; have experience in manufacturing electronics products; have high engineering capability; and already run established manufacturing plants in mainland China.

Lear has set up the Lear Corp. China Ltd. In Shanghai of mainland China and runs several plants in that nation. Lear China has already begun exporting Chinese-made auto parts to customers in Japan and South Korea. The company hopes to find some strategic partners when it expands production in China.

TAITRA has informed Lear about some possible candidates in Taiwan, including the Yulon Group (which owns many auto-parts manufacturing subsidiaries), and hopes to mediate some successful cooperation projects.

TAITRA also pointed out that Bosch recently promised to send ranking procurement officials from its branch office in Hong Kong to hold procurement seminars with interested suppliers in Taiwan.

At the upcoming AutoTronics Taipei 2006, TAITRA said, the international procurers that are expected to come include Siemens VDO, Wal-Mart, Mapline, and Early Light Ind. Of Hong Kong.