Lear Acquires Leading Seating Materials Specialist Thagora

Acquisition improves Lear's manufacturing processes for surface material seating applications with scalable Industry 4.0 software and hardware

SOUTHFIELD,Mich.,May 24,2022 -- Lear Corporation (NYSE: LEA),a global automotive technology leader in Seating and E-Systems,recently announced it has acquired Thagora Technology SRL,a privately held company specializing in material utilization hardware and software technologies based in Iasi,Romania.

Thagora's proprietary solutions will complement Lear's sustainable manufacturing processes by reducing scrap and lowering energy usage during production. In addition,Thagora's Industry 4.0 technology brings significant advances to manufacturing operations through engineering and logistics,including improved material traceability,and facility footprint utilization.

"Thagora offers Learaccess to scalable,smart-manufacturing tools that will be a valuable addition to our business," said Frank Orsini,Lear Executive Vice President and President,Seating. "We welcome Thagora's talented employees to the Lear family. Together,we share the same professional commitment to safety,quality,innovation and support for the communities where we live and work."

"This transaction provides Thagora with a unique opportunity to maintain the strong relationships we have built with our current automotive and non-automotive customers while improving our geographic reach through Lear's global footprint to win new business from OEMs around the world," said Mihai Mitrica,Thagora's owner. "We are excited to join the Lear family and looking forward to continuing to deliver new product innovations that leverage our consumer-centric mindset."

About Lear Corporation

Lear,enables superior in-vehicle experiences for consumers around the world. Lear's diverse team of talented employees in 38 countries is driven by a commitment to innovation,operational excellence,and sustainability. Lear is Making every drive better™ by providing the technology for safer,smarter,and more comfortable journeys. Lear,headquartered in Southfield,Michigan,serves every major automaker in the world and ranks 179 on the Fortune 500. Further information about Lear is available at lear.com or on Twitter @LearCorporation.