Sage Automotive Interiors (an Asahi Kasei company) is taking over the automotive fabric business of Adient to expand capacity and capability for automotive interior products to the European market. With several locations in Europe, the textile facilities are suited for the company to supply the automotive cut and sew facilities in Central and Eastern Europe.
The two companies have signed an agreement in this connection.Sage Automotive Interiors (an Asahi Kasei company) is taking over the automotive fabric business of Adient to expand capacity and capability for automotive interior products to the European market. With several locations in Europe, the textile facilities are suited for the company 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 $175 million 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 is one of the world’s leading providers of automotive interior materials—seating, door panel surfaces, and headliners—to automotive Original Equipment Manufacturers (OEMs).
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