I.G. Bauerhin

Lear Corporation has entered into a definitive agreement to acquire I.G. Bauerhin (IGB), a supplier of automotive seat climate control systems, for €140 million on a cash- and debt-free basis. The transaction is expected to close in six to nine months.

IGB Automotive, a subsidiary of German I.G. Bauerhin GmbH, opened a new 7,800 sqm facility in Indjija, Serbia, on January 24, 2017. The EUR 4.5 million investment created over 600 new jobs. The company also announced plans for new facilities in China and Mexico.