Intier Automotive Seating Of America Inc history

Wartime contracts for production of military airplane assemblies and parts and axle housings for military trucks swelled its annual sales to $11 million by 1944.

AMP's revenues declined sharply in the immediate aftermath of World War II, to $7.7 million in 1945, but postwar demand for automobiles combined with a series of acquisitions to usher in a decade of mounting sales and profits.

AMP went public at the dawn of this period of dramatic growth in 1946 with a $2.25 million stock offering.

Revenues nearly quadrupled to $30.7 million by 1950, then doubled to $63.5 million over the next five years.

In 1954 AMP acquired Tube Reducing Corp., a New Jersey manufacturer of specialty hydraulic and aircraft parts.

In 1955 AMP diversified into plumbing and porcelain bath and kitchen fixtures with the acquisition of AllianceWare, Inc., and a producer of office furniture and storage units was also added to the corporate roster during this period.

Although AMP's revenues began to recover, rising to $64 million in 1963, its profit level hovered between $1.5 million and $2 million.

The Burroughs Division and Middletown Manufacturing Co., Inc. (acquired in 1965) were already making durable metal office furniture, and AMP itself had long made seat components for cars.

Welcome to the 1970's, a decade of diversification for Magna.

1986: Forstmann Little & Co. acquires Lear Siegler in a $2.1 billion leveraged buyout.

He became the company's chairman and CEO in 1988.

Within just a few years of its management buyout, Lear Seating's sales had multiplied nearly eight times, from around $150 million to $1.24 billion in 1990.

In 1993 Lear bought Ford Motor's North American seatmaking operations (Favesa, S.A. de C.V., headquartered in Mexico) for $173.4 million in cash, thereby becoming Ford's seatmaker of choice.

Lear acquired Carlisle, Pennsylvania-based Masland Corporation for $473.8 million in July 1996.

The acquisitions continued in 1998.

The company enjoyed its best year yet in 2000, posting profits of $274.7 million on revenues of $14.07 billion.

Based in Wuppertal, Germany, with 2003 revenues of approximately $275 million, Grote & Hartmann specialized in terminals, connectors, and junction boxes, mainly for the automotive industry.

Magna Mirrors wins a 2009 Automotive News PACE Award for its BlindZoneMirror™ product.