Johnson Controls, a global solution provider for automotive parts, will name its seating and interior business – which will acquire a separate identity as a public company on October 3, 2016 – as Adient, according to a press statement released by the company.

Bruce McDonald, vice chairman of Johnson Controls made this announcement in Deutsche Bank Global Auto Industry Conference in Detroit, Michigan during his presentation to investors. He will be the future chairman and CEO of Adient.

Adient expects to disclose detailed financial information in late March or early April with the filing of a Form 10 Information Statement with the US Securities and Exchange Commission. The new company’s common stock will be traded on the New York Stock Exchange under the ticker symbol ADNT.

Commenting on the new name, McDonald said, “Adient is a Latin word that translates to accepting and advancing a situation or a stimulus, which is representative of our constant drive to engage, compete and always improve.”

“The announcement of our new name is the first step on our journey to launch our new brand and to defining our future as a successful, independent company. We will leverage our capabilities to drive growth, both within and beyond the automotive industry,” he added. (MCJ)