Brose and Volkswagen sign joint venture agreement for seats and interiors

Brose Group and Volkswagen AG signed an agreement to establish a joint venture for complete seats, seat structures and interior solutions. Brose will acquire 50% of Volkswagen subsidiary SITECH, with Brose taking industrial leadership. The transaction is pending antitrust approval.

“The Brose Group and Volkswagen AG have signed an agreement to establish a joint venture that will develop and manufacture complete seats, seat structures and components along with solutions for the vehicle interior.”volkswagen-group.com

• 2 sources
• volkswagen-group.comBrose and Volkswagen AG sign joint venture agreement | Volkswagen GroupMar 26, 2021
• mexicobusiness.newsSITECH: Nueva empresa conjunta de Brose y VolkswagenApr 20, 2021

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