Business Wire

SC-SAGE-AUTOMOTIVE

Share

Sage Automotive Interiors to Acquire Adient’s Automotive Fabric Business

Sage Automotive Interiors (an Asahi Kasei company) has signed an agreement to acquire the automotive fabric business of Adient (NYSE: ADNT) with the goal of expanding capacity and capability for automotive interior products to the European market. With a number of locations in Europe, the textile facilities are ideally suited to supply the automotive cut and sew facilities in Central and Eastern Europe.

“Europe continues to be a key growth area for Sage Automotive Interiors,” said Dirk Pieper, CEO of Sage Automotive Interiors. “In addition, the technology and capabilities that will now be part of Sage Automotive Interiors will strengthen our ability to serve customers from our current locations in Europe and the rest of the world.”

“As Adient continues to focus on its core business, we believe that the sale of our fabrics operation to Sage better positions that business for growth and long-term successful performance,” said Doug Del Grosso, president and CEO of Adient.

Per the agreement, Sage Automotive Interiors will pay $175M for Adient’s automotive fabric business. The agreement is subject to regulatory approval and customary closing conditions and is not expected to be completed until mid 2020.

Sage Automotive Interiors (www.sageautomotiveinteriors.com ) is one of the world’s leading providers of automotive interior materials—seating, door panel surfaces, and headliners—to automotive Original Equipment Manufacturers (OEMs). Global offices and manufacturing locations include the U.S., Japan, China, Brazil, Korea, India, Thailand, Mexico, and Europe. Sage enjoys core strengths in consumer research, sustainability and innovative problem solving for the OEM. Sage’s vision is to be the market leader in design, engineering, and technical capability supported by world class manufacturing. Sage Automotive Interiors is an Asahi Kasei company (TYO: 3407).

Link:

ClickThru

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom