Company:Adient

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Short description: American automotive parts manufacturer
Adient plc
TypePublic limited company
ISIN[https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language=en&isin=IE00BD845X29 IE00BD845X29]
PredecessorAutomotive Experience division of Johnson Controls International[1]
FoundedOctober 31, 2016; 7 years ago (2016-10-31)[1]
HeadquartersPlymouth, Michigan, U.S.
Number of locations
200 manufacturing/assembly plants (2022)[1]
Area served
Worldwide
Key people
Douglas Del Grosso CEO[2]
RevenueUS$14.1 billion (2022)[1]
Number of employees
70,000 (2022)[1]
Websiteadient.com
Adient (автор Стоялов Максим Викторович).jpg

Adient plc is an American Irish-domiciled company that manufactures automotive seating for customers worldwide and is based in Plymouth, Michigan, United States .[3]

History

Adient was founded as a spin-off from Johnson Controls in 2016,[3] establishing its legal domicile in Dublin, Ireland.[1] Johnson Controls had entered the automotive seating business in 1985 by acquiring Hoover Universal.[4] In September 2017, Adient acquired the Oak Park, Michigan-based automotive seat manufacturer Futuris from Clearlake Capital, which added 15 facilities in Asia and North America, including one facility based in Newark, California,[5] and which was anticipated to increase the company's revenue by $0.5 billion annually.[3]

In 2016, Adient announced plans to move its global operating headquarters to the Marquette Building in Detroit,[6] but canceled those plans as of June 2018.[7]

concept vehicle by Adient

In January 2018, a joint venture was formed by Adient (50.01%) and Boeing (49.99%) to develop and manufacture airliner seats for new installations or retrofit, a $4.5 billion market in 2017 which will grow to $6 billion by 2026, to be based in Kaiserslautern near Frankfurt and distributed by Boeing subsidiary Aviall, with its customer service center in Seattle.[8]

In February 2020 Adient announced it agreed to sell its 30% stake in Yanfeng Global Automotive Interior Systems to Yanfeng Automotive Trim Systems US$379 million.[9][10]

In March 2020, Adient entered into an agreement to sell its automotive fabrics manufacturing business to Sage Automotive Interiors for $175 million.[11][12]

As of 2022, Adient employed 70,000 people across 200 manufacturing/assembly plants,[1] in 30 countries.[3][Nt 1]

Notes

  1. ↑ It is unclear whether this number includes assets acquired through Futuris.

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 Wong, Wilson Kia Onn (2017). "The global automotive seats industry". Automotive Global Value Chain: The Rise of Mega Suppliers. Routledge Advances in Management and Business Studies. Routledge. pp. 87. ISBN 9781315300979. OCLC 1003268557. https://books.google.com/books?id=gUIwDwAAQBAJ. 
  2. ↑ "Adient Names Douglas G. DelGrosso President and Chief Executive Officer" (Press release). Adient. 13 September 2018.
  3. ↑ 3.0 3.1 3.2 3.3 "Adient Earnings Release". Adient Investors Website. November 2023. https://investors.adient.com/news-releases/2023/08-02-2023-115015946. 
  4. ↑ Daniels, Lee A. (1985-03-05). "Johnson Buying Hoover Universal". The New York Times. ISSN 0362-4331. https://www.nytimes.com/1985/03/05/business/johnson-buying-hoover-universal.html. 
  5. ↑ Loan Programs Office (January 2016). Driving Economic Growth: Advanced Technology Vehicles Manufacturing (Report). United States Department of Energy. p. 2. https://energy.gov/sites/prod/files/2016/02/f29/DOE-LPO_Mini-Reports_004_ATVM-Driving-Economic-Growth_FINAL_Jan-2016.pdf. Retrieved 6 January 2018. 
  6. ↑ Wayland, Michael (30 November 2016). "Adient moving to downtown Detroit's Marquette Building". The Detroit News. http://www.detroitnews.com/story/business/autos/2016/11/30/adient-marquette-building/94667058/. 
  7. ↑ "Auto supplier Adient cancels move to downtown Detroit. Here's why." (in en). Detroit Free Press. https://www.freep.com/story/money/business/michigan/2018/06/18/auto-supplier-adient-cancels-detroit-move/710554002/. 
  8. ↑ "Boeing, Adient Launch New Company to Design and Build Airplane Seats" (Press release). Adient. 16 January 2018 – via PRNewswire.
  9. ↑ "Adient enters into agreement with joint venture partner Yanfeng to restructure existing joint venture relationships and drive shareholder value" (in en-US). https://finance.yahoo.com/news/adient-enters-agreement-joint-venture-113000626.html. 
  10. ↑ "Adient to sell stake in Yanfeng Global Automotive - International Leather Maker" (in en). 3 February 2020. https://internationalleathermaker.com/news/fullstory.php/aid/7949/Adient_to_sell_stake_in_Yanfeng_Global_Automotive_.html. 
  11. ↑ "Adient enters into settlement to promote its materials enterprise" (in en-US). 2020-03-09. https://carenthusiastworld.com/adient-enters-into-settlement-to-promote-its-materials-enterprise/. 
  12. ↑ "Adient enters into agreement to sell its fabrics business | Automotive World". 6 March 2020. https://www.automotiveworld.com/news-releases/adient-enters-into-agreement-to-sell-its-fabrics-business/. 

External links



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