Reginal Thomas
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Lear Corp. Buying Eagle Ottawa LLC for $850 Million

Auto seats and electrical power systems makers, Learp Corp., is acquiring Eagle Ottawa LLC, a automotive leather supplier, for $850 million. Due to higher demand from high vehicle production globally the price in car seats has risen, primarily in the United States and China. Lear said in a statement that Eagle Ottawa in known for the superior quality and craftsmanship of its products and is the world’s largest provider of automotive leather. Lear predicts the deal will add 5% to full year earnings.