- Lear Corp LEA has agreed to acquire Thagora Technology SRL, a privately held company specializing in material utilization hardware and software technologies based in Iasi, Romania. The financial terms were not disclosed.
- "Thagora offers Lear access to scalable, smart-manufacturing tools that will be a valuable addition to our business," said Frank Orsini, Lear EVP and President, Seating.
- Thagora's proprietary solution is expected to complement Lear's sustainable manufacturing processes by reducing scrap and lowering energy usage during production.
- Lear held $1.2 billion in cash and equivalents as of April 2, 2022.
- Price Action: LEA shares are trading higher by 3.83% at $135.02 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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