DETROIT, March 27, 2017 /PRNewswire/ --
Adient, plc (NYSE: ADNT), the world's leading automotive seating
and interiors supplier, today announced it is collaborating with
Boeing to explore innovative comfort, efficiency and functional
improvements to commercial aircraft seating and interiors.
The collaboration brings together two global leaders in their
respective industries. Boeing, the world's leading airplane
manufacturer, is providing insight into the commercial aviation
industry and its technical specifications, as well as an
understanding of FAA certification requirements. Adient is the
largest global supplier of seating and interior systems for the
automotive industry and will contribute expertise in design,
comfort, craftsmanship, operational excellence, and supply chain
management.
"Adient is committed to our strategy of leveraging our strong
global expertise and leadership in automotive seating and interiors
to deliver customer value and competitive advantages in adjacent
mobility markets," said Adient Chairman and CEO Bruce McDonald. "Through discussions with
Boeing, we believe there's an opportunity for Adient to raise the
bar on the aviation passenger experience, building on our
leadership in the automobile seat market."
According to Counterpoint Market Research, LTD, the aircraft
Interiors market is estimated to reach $21.7B by 2025, a compounded annual growth rate
of 4.3% from 2016 to 2025. The industry is consolidated among a
small number of providers.
"Boeing is building commercial airplanes at record rates to
deliver on an order backlog of more than $400 billion," said Kent
Fisher, vice president and general manager, Supplier
Management, Boeing Commercial Airplanes. "We continually explore
opportunities to offer more value to our customers and believe they
would benefit from a wider range of options and more reliable,
on-time performance in the airplane interiors and seating
category."
About Adient:
Adient is a global leader in automotive seating. With 75,000
employees operating in 230 manufacturing/assembly plants in 33
countries worldwide, we produce and deliver automotive seating for
all vehicle classes and all major OEMs. From complete seating
systems to individual components, our expertise spans every step of
the automotive seat-making process. Our integrated, in-house skills
allow us to take our products from research and design all the way
to engineering and manufacturing - and into more than 25 million
vehicles every year.
Cautionary Statement Regarding Forward-Looking
Statements:
Adient plc has made statements in this document that are
forward-looking and, therefore, are subject to risks and
uncertainties. All statements in this document other than
statements of historical fact are statements that are, or could be,
deemed "forward looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. In this document,
statements regarding Adient's future financial position, sales,
costs, earnings, cash flows, other measures of results of
operations, capital expenditures or debt levels and plans,
objectives, outlook, targets, guidance or goals are forward-looking
statements. Words such as "may," "will," "expect," "intend,"
"estimate," "anticipate," "believe," "should," forecast," "project"
or "plan" or terms of similar meaning are also generally intended
to identify forward-looking statements. Adient cautions that these
statements are subject to numerous important risks, uncertainties,
assumptions and other factors, some of which are beyond Adient's
control, that could cause Adient's actual results to differ
materially from those expressed or implied by such forward-looking
statements, including, among others, risks related to: the ability
of Adient to meet debt service requirements and comply with
covenants which may restrict the payment of dividends, the
availability and terms of financing, general economic and business
conditions, the strength of the U.S. or other economies, automotive
vehicle production levels, mix and schedules, energy and commodity
prices, the availability of raw materials and component products,
currency exchange rates, and cancellation of or changes to
commercial arrangements. A detailed discussion of risks related to
Adient's business, including risks relating to the payment of
dividends, is included in the section entitled "Risk Factors" in
Adient's Annual Report on Form 10-K for the fiscal year ended
September 30, 2016 filed with the SEC
on November 29, 2016 and available at
http://www.sec.gov. Potential investors and others should consider
these factors in evaluating the forward-looking statements and
should not place undue reliance on such statements. The
forward-looking statements included in this document are made only
as of the date of this document, unless otherwise specified, and,
except as required by law, Adient assumes no obligation, and
disclaims any obligation, to update such statements to reflect
events or circumstances occurring after the date of this document.
In addition, this document includes certain projections provided by
Adient with respect to the anticipated future performance of
Adient's businesses. Such projections reflect various assumptions
of Adient's management concerning the future performance of
Adient's businesses, which may or may not prove to be correct. The
actual results may vary from the anticipated results and such
variations may be material. Adient does not undertake any
obligation to update the projections to reflect events or
circumstances or changes in expectations after the date of this
document or to reflect the occurrence of subsequent events. No
representations or warranties are made as to the accuracy or
reasonableness of such assumptions or the projections based
thereon.
Contacts
Media
David J. Roznowski
T: +1-734-254-3255
david.j.roznowski@adient.com~
Ulrich Andree
T: +49-2174-654343
Ulrich.andree@adient.com
Nate Hulings - Boeing
T: +1-425-865-1628
Nathan.a.Hulings@boeing.com
Investors :
Mark Oswald
T: +1-732-254-3372
Mark.A.Oswald@adient.com