Sage Automotive Interiors Completes Acquisition of Adient’s Automotive Fabric Business
October 01 2020 - 6:01AM
Business Wire
Increased capacity, expansion, in European
automotive industry
Sage Automotive Interiors (an Asahi Kasei company) has now
completed its agreement to acquire the automotive fabric business
of Adient (NYSE: ADNT).
Sage Automotive Interiors has paid $175M and received regulatory
approvals under the agreement announced on March 5, 2020.
“Strengthening our position in Europe will enable us to better
support multiple OEMS locally and more broadly as we combine the
best of both company operations,” said Dirk Pieper, CEO of Sage
Automotive Interiors.
“We look to expand capacity and capability for automotive
interior products to the European market to continue our global
position as the #1 preferred automotive interiors company,” said
Pieper.
Committed to developing innovative designs and creating high
performing interiors without compromising the environment, Sage is
a global company with more than 30 locations in 19 countries.
“Europe continues to be a key growth area for 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,” said Pieper.
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).
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version on businesswire.com: https://www.businesswire.com/news/home/20201001005109/en/
Sidney Locke Sage Automotive Interiors (864) 630-8999
sidney.locke@sageai.com
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