Sage Automotive Interiors (an Asahi Kasei company) has signed an agreement to acquire the automotive fabric business of Adient with the goal of expanding capacity and capability for automotive interior products to the European market. With a number of locations in Europe, the textile facilities are ideally suited to supply the automotive cut and sew facilities in Central and Eastern Europe.
Sage Automotive Interiors will pay $175M for Adient’s automotive fabric business. The agreement is subject to regulatory approval and customary closing conditions and is not expected to be completed until mid 2020.
Sage Automotive Interiors is one of the world’s leading providers of automotive interior materials—seating, door panel surfaces and headliners—to automotive Original Equipment Manufacturers (OEMs).