US: Lear loss widens on price dispute adjustments

摘要

LEAR has announced that it is widening its previously reported 2005 loss by US$6m, due to a customer withholding payments as a result of certain pricing adjustments. "Lear was advised by a major customer of retroactive pricing adjustments associated with a particular vehicle programme for shipments made prior to 2006," the company stated. Certain payments due to the supplier in 2006 were withheld as a result of these pricing adjustments. Lear did not reveal the name of the customer or the vehicle but said the vehicle programme in question is no longer in production.