8 July 1999: US-based auto parts manufacturer Lear Corp. said it has signed a letter of intent to acquire rearview mirror maker Donnelly Corp.“s 50% stake in the companies“ joint venture.
Terms of…
8 July 1999: US-based auto parts manufacturer Lear Corp. said it has signed a letter of intent to acquire rearview mirror maker Donnelly Corp.“s 50% stake in the companies“ joint venture. Terms of the transaction, which is expected to be completed later this summer, were not released. The joint venture, Lear-Donnelly Overhead Systems LLC, was formed in 1997 and its product lines include headliners, sun visors, lighting and overhead consoles. In a separate statement, Donnelly said the sale continues the strategy set late last year which calls for a much closer focus on its core automotive businesses.