Lear Corporation, a global leader in auto technology in Seating and E-Systems, today announced that it has entered into a definitive agreement to buy WIP Industrial Automation, a privately held systems integrator based in Spain that specializes in advanced automation solutions for industrial applications.
The deal, subject to regulatory approvals and other customary closing conditions, is expected to close by the third quarter of this year.
WIP, a long-time Lear supplier with 25 years of automation experience, develops, integrates, and deploys technologies to create customized automation solutions for manufacturing applications. And WIP brings strong robotics and AI-based computer vision capabilities to Lear, which is essential for safety, quality, and efficiency in a modern manufacturing environment.
WIP positions Lear to operate more efficiently, allowing the company to more effectively navigate current macroeconomic challenges, such as elevated wage inflation.
This acquisition is the latest of Lear’s strategic investments designed to broaden its global automation and digital capabilities and build on its successful integration of ASI Automation, Thagora Technology SRL, and InTouch Automation. The expertise of WIP, ASI, Thagora, and InTouch equip Lear with a solid portfolio of automation solutions and technical knowledge that span all critical areas of the manufacturing process and will accelerate innovation in the development of next-generation automation technologies.
KEY QUOTES:
“WIP brings valuable manufacturing engineering capabilities that are essential to advancing innovative automation solutions across our global operations. This acquisition will support Lear’s long-term strategy to strengthen our market leadership through operational excellence. We are thrilled to welcome the WIP team to the Lear family.”
– Ray Scott, Lear President and CEO
“This transaction gives WIP a unique opportunity to become part of a world-class automotive company, marrying WIP’s expertise in robotics and AI technologies with Lear’s industry-leading knowledge in product design, engineering, and manufacturing processes. Having valued Lear as a customer for many years, we are excited to join the Lear family and look forward to continuing to develop new innovations that leverage our combined capabilities.”
– Ángel Rodríguez Fernández, WIP CEO and co-owner
