Adient to sell fabrics business to Sage Automotive Interiors for $175M

Adient has agreed to sell its automotive fabrics and lamination business to Sage Automotive Interiors, an Asahi Kasei company, for $175 million. The transaction includes 11 facilities globally and is expected to close by the end of fiscal year 2020.

“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.”adient.com

• 3 sources
• adient.comAdient enters into agreement to sell its fabrics businessMar 6, 2020
• textileworld.comTextile World | Page 1057Mar 6, 2020
• nonwovensnews.comSage acquires Adient’s interiors businessAdrian WilsonMar 9, 2020

Summarized from public sources; check the original articles before acting on it.