Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, it has acquired Thagora Technology SRL, a privately held company specializing in material utilization hardware and software technologies based in Iasi, Romania.
Thagora's proprietary solutions will complement Lear's sustainable manufacturing processes by reducing scrap and lowering energy usage during production. In addition, Thagora's Industry 4.0 technology brings significant advances to manufacturing operations through engineering and logistics, including improved material traceability, and facility footprint utilization.
"Thagora offers Lear access to scalable, smart-manufacturing tools that will be a valuable addition to our business," said Frank Orsini, Lear Executive Vice President and President, Seating. "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."
"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," said Mihai Mitrica, Thagora's owner.
"We are excited to join the Lear family and looking forward to continuing to deliver new product innovations that leverage our consumer-centric mindset."
