US$500m
Futuris acquisition is expected to add around US$500m to Adient annual revenue (majority in North America).
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US$500m
Futuris acquisition is expected to add around US$500m to Adient annual revenue (majority in North America
Adient has completed its acquisition of automotive seating manufacturer Futuris Group for around US$360m, including the assumption of around US$18m of net debt, subject to adjustments.
The supplier anticipates the transaction will add around US$500m in revenue on an annual basis. It is expected to be accretive to Adient’s adjusted fiscal 2018 earnings per share.
Futuris operates 15 facilities in North America and Asia and provides full seating systems, seat frames, seat trim, headrests, armrests and seat bolsters.
In North America, the company’s primary customers include Tesla, Ford and General Motors, as well as other automotive seating suppliers. In Asia, customers include Geely, Chery and Brilliance.
The acquisition is expected to provide substantial synergies through vertical integration, purchasing and logistics improvements, as well as by applying the best business practices and process optimisation of the Adient Manufacturing System to drive operational efficiencies.
Adient has 75,000 employees operating 230 manufacturing/assembly plants in 33 countries worldwide, producing and delivering automotive seating for every vehicle class and all major OEMs.
