Lear Finalizes Acquisition of Eagle Ottawa

Seatmaker Lear Corp. has completed its $850 million acquisition of seating leather supplier Eagle Ottawa LLC.

The two companies announced the intended sale in August. Eagle Ottawa describes itself as the world's largest provider of premium leather for automotive seating. The company, located in Auburn Hills, Mich., has annual sales of about $1 billion.

Lear reiterates that it expects the acquisition to increase its earnings this year by about 5%.