Lear Buckles In This Romania-Based Seating Materials Specialist

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.