The Piston Group, a Detroit auto parts maker, reportedly will buy a Takata interiors subsidiary, Irvin Automotive though the deal is not connected with the sellers’ airbag recall woes.
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A source told Reuters the deal was expected to close later this week at an undisclosed price and was not related directly to the larger effort to bail out Takata and its primary seat belt and air bag businesses.
Irvin Automotive, based in suburban Detroit and with manufacturing plants in Mexico, makes pieces for vehicle interiors such as seat trim, visors and arm rests, the report said. The supplier is headed by former National Basketball Association player Vinnie Johnson, according to the Reuters report.
The Piston Group booked revenue of US$1.3bn last year. Its largest business is Piston Automotive, which has 700 employees and plants in Michigan, Missouri, Ohio and Kentucky.
Irvin has 7,000 employees, mostly in Mexico. Takata put its Irvin business up for sale seven months ago.
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