Lear acquires Romanian seating materials specialist Thagora Technology
Lear Corporation, a Michigan-based automotive technology provider, specializing in seating and E-Systems, has acquired Thagora Technology, a Romanian firm which provides material utilization hardware and software technologies.
The financial terms of the deal were not disclosed.
Mihai Mitrica — Owner of Thagora Technology said: “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.
“We are excited to join the Lear family and looking forward to continuing to deliver new product innovations that leverage our consumer-centric mindset.”
Lear said that the proprietary solutions of Thagora Technology complement its sustainable manufacturing processes by cutting down scrap and reducing usage of energy during production.
Additionally, Thagora Technology Industry 4.0 technology is said to bring considerable advances to manufacturing operations by means of engineering and logistics, including enhanced material traceability, and utilization of facility footprint.
Frank Orsini — Lear Executive Vice President and Seating President said: “Thagora offers Lear access to scalable, smart-manufacturing tools that will be a valuable addition to our business.
“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.”