Adient, the global leader in automotive seating for all vehicle classes and all major OEMs, and Arvind Limited, one of the leading textile to retail and brands conglomerate based in India, have announced the formation of Adient Arvind Automotive Fabrics, a joint venture that will develop, manufacture, and sell automotive fabrics in Ahmedabad, India.
Adient Arvind Automotive Fabrics will manufacture high-end performance fabrics for automotive seating systems at a world-class fabric manufacturing facility. The joint venture will benefit from synergies between Adient and Arvind, each bringing industry-leading technology and design capabilities in their respective fields.Adient, the global leader in automotive seating for all vehicle classes and all major OEMs, and Arvind Limited, one of the leading textile to retail and brands conglomerate based in India, have announced the formation of Adient Arvind Automotive Fabrics, a joint venture that will develop, manufacture, and sell automotive fabrics in Ahmedabad, India.#
Working closely with its customers on long-term product road maps, the new company will provide Indian and global automakers with unrivalled product quality and innovative solutions in fabrics, enabling them to deliver new levels of comfort, aesthetic variety, and design versatility to end users in India.
Adient is the majority stakeholder in the new company with a 50.5 percent share and expects the joint venture to be included in its consolidated financial statements. Arvind and Adient will each have representation on the board of directors of Adient Arvind Automotive Fabrics.
Jef Vercammen, vice president, global fabrics at Adient said, “Adient is committed to delivering new value to our customers while enhancing our fabrics product portfolio through continuing advancements. This partnership with Arvind Limited gives us an exciting opportunity to do just that in India’s rapidly growing automotive market. Combining Adient’s global fabrics design and technological resources with Arvind’s extensive manufacturing capabilities will enable us to accelerate the pace at which we bring innovative automotive fabrics products to market in India.”
Punit Lalbhai, executive director, Arvind Limited said, “The partnership will leverage Adient’s market presence and automotive expertise with Arvind's textile manufacturing capabilities to provide customers superior and high-quality automotive seating solutions.”
Murali Rajagopalan, director and country manager, Adient India said, “We are delighted to be partnering with Arvind, a well-respected leader in the textiles industry with a long history of manufacturing excellence, from yarn production through to innovative textile products. Through this collaboration, Adient will gain a strong position from which to serve our Indian and global customers and ultimately offer more value to consumers in India.” (GK)
Fibre2Fashion News Desk – India
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