July 18, 1995 |
Lear Seating to Acquire Auto Parts Firm: The Southfield, Mich.-based company said it has reached an agreement to buy Automotive Industries Holding Inc. for $626 million. Automotive Industries, based in Minneapolis, makes car interior and engine components for auto makers in North America and Europe. It had 1994 revenue of $512 million and employs 8,000 people. Under the merger agreement, Lear Seating Corp. will pay $33.50 for each of the 18.