Grupo Antolin today announced the divestiture of its Seating and Metal Business Unit to Lear Corporation, a leading global supplier of automotive seating and electrical systems.
The transaction is consistent with Grupo Antolin’s growth strategy, which focuses on existing business units with solid market shares and international presence.
With this divestiture Grupo Antolin strengthens its leadership as one of the most important global automotive interior suppliers.
The company intends to accelerate investments already planned to improve its production capabilities, open new factories, and increase R&D capabilities to deliver the best interior solutions to its customers.
The track record and significant backlog of Grupo Antolin’s Seating and Metal Business Unit have been some of the reasons that triggered the interest of Lear Corporation, which is taking another step towards consolidating its leading global position as automotive seating supplier.
The operation, which is awaiting approval from the antitrust authorities, is expected to close in the first half of the year.