Seating and electrical systems supplier Lear plans to "leverage its unique product capabilities to profitably grow sales in both business segments".

It will also review its "convergence opportunity to leverage its E-Systems electronics and software capabilities to offer industry leading seating innovations."     

President and CEO Ray Scott said: "Lear is in the strongest competitive position in its 100-year history, at a time when industry trends, such as electrification, connectivity and mobility, are driving tremendous growth opportunities.

"This is truly an exciting time in the automotive industry, and Lear is positioned to accelerate our growth, improve our earnings and continue to deliver superior shareholder returns."

The supplier, at an investor event, today outlined growth opportunities that would increase total sales from US$22bn this year to over $30bn in 2023 while increasing core operating margins.

Lear's product segment presidents, Frank Orsini for seating and Jeneanne Hanley for E-Systems, provided detailed reviews of their "unique product and process capabilities that will drive future growth".

Lear also formally introduced its new chief technology officer, John Absmeier, to the investment community.

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