Lear moves to sell its Russian plants

Lear isn’t the only company in this predicament.Canadian auto supplier Magna Internationalhas a large presence in the metropolis of Detroit, with six manufacturing plants and 2,500 employees in Russia. The company also suspended operations there in March.

The factory remains closed and the assets are still owned by Magna, a company spokesperson said. Cranes on tuesday.

Other manufacturers are also moving to sell assets after suspending or curtailing operations.

ford motor When general motors ceased operations in Russia, and Ford sold its shares in the joint venture in Russia.

Guardian Industries’ parent company, Koch Industries, sold its Russian operations of two glass factories and 600 employees to FSK Group president Vladimir Alexandrovich Voronin in July for an undisclosed amount. Did.

As of May, several other Michigan-based companies were still operating in Russia, including Domino’s Pizza, Tenneco, Dow, and Kellogg’s. Crain contacted each of these companies to confirm the status of their operations and assets in Russia, but did not immediately respond.

Based in suburban Detroit, Lia ranks 10th on the list. car news Europe 2022 list of the top 100 global suppliers with global sales to automakers of $19.3 billion in 2021.

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