Detroit — US car parts manufacturer Lear Corporation is set to open a new car seating manufacturing unit in Iasi, northeastern Romania in January next year.
"With Lear's continued growth, we are pleased to locate our new plant in Iasi, known as a major centre for the textile industry," said Gideon Jewel, Lear's president for seating in Europe and Africa. "We also appreciate the cooperation of all involved as Lear adds a fourth facility in Romania."
"We have been encouraged by the dedication and effort of our existing employees," said Raffael Gagliardi, Lear's vice president of European trim and foam.
"We look forward to adding employees who appreciate joining the world leader in luxury and performance seating."
The new plant will further establish Lear's presence in Romania, with existing electrical power management and distribution facilities in Pitesti and Campulung.
Stephens said Iasi is a prime location for its capable supply chain and low cost of labor.
For the third quarter of 2013, Lear reported sales of $3.9 billion (EUR 2.8 billion), up from $3.5 billion reported for the same period last year with a net income of $113 million.