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GM To Sell Seat Business to Lear

February 24, 1998

DETROIT (AP) _ General Motors Corp.’s parts-making operation plans to sell its automotive seating business by the end of June to Lear Corp., a top maker of auto interiors.

The companies have yet to negotiate a price.

The acquisition includes Delphi Automotive Systems’ seat-making sites in Auburn Hills, Grand Rapids and eight foreign countries, The Detroit News reported in Tuesday’s editions.

The deal would increase Lear’s GM sales 61 percent to nearly $3.2 billion. Lear already is North America’s largest independent supplier of auto interiors.

Lear and arch-rivals Johnson Controls Inc. of Milwaukee, Magna International Inc. of Markam, Ontario, Ford Motor Co.’s Visteon parts unit, and Bertrand Faure of France were top contenders for Delphi’s seat business.

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