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Lear Corp. to Close Indiana Plant

May 15, 2002

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DETROIT (AP) _ Employees of Lear Corp.’s Bourbon, Ind., plant were informed Wednesday the plant will close by the end of the year.

The plant employs approximately 450 people and produces injection-molded interior trim and door panels, said Lear spokeswoman, Andrea Puchalsky.

The Southfield, Mich.-based company is in the midst of a restructuring plan that involves cutting 6,500 jobs through the closing or consolidation of 21 plants. The company expects that process to be 85 percent complete by the end of the year, Puchalsky said.

For the three months ended March 30, the third-largest automotive supplier in North America earned $46.4 million, or 70 cents a share, compared with $14.5 million, or 22 cents per share, in the first quarter of 2001.

In afternoon trading on the New York Stock Exchange, shares of Lear stock were up 44 cents at $51.44.


On the Net:

Lear Corp., http://www.lear.com

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