Adient

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

Adient plc
TypePublic limited company
ISINIE00BD845X29
PredecessorAutomotive Experience division of Johnson Controls International[1]
FoundedOctober 31, 2016 (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

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. 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. p. 87. ISBN 9781315300979. OCLC 1003268557 – via Google Books (preview).
  2. "Adient Names Douglas G. DelGrosso President and Chief Executive Officer" (Press release). Adient. 13 September 2018.
  3. "Adient Earnings Release". Adient Investors Website. November 2023. Retrieved 19 October 2023.
  4. Daniels, Lee A. (1985-03-05). "Johnson Buying Hoover Universal". The New York Times. ISSN 0362-4331. Retrieved 2018-08-29.
  5. Loan Programs Office (January 2016). Driving Economic Growth: Advanced Technology Vehicles Manufacturing (PDF) (Report). United States Department of Energy. p. 2. Retrieved 6 January 2018.
  6. Wayland, Michael (30 November 2016). "Adient moving to downtown Detroit's Marquette Building". The Detroit News. Retrieved 2017-12-04.
  7. "Auto supplier Adient cancels move to downtown Detroit. Here's why". Detroit Free Press. Retrieved 2018-07-05.
  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". finance.yahoo.com. Retrieved 2020-02-19.
  10. "Adient to sell stake in Yanfeng Global Automotive - International Leather Maker". internationalleathermaker.com. 3 February 2020. Retrieved 2020-02-19.
  11. "Adient enters into settlement to promote its materials enterprise". Car Enthusiast World. 2020-03-09. Retrieved 2020-03-19.
  12. "Adient enters into agreement to sell its fabrics business | Automotive World". www.automotiveworld.com. 6 March 2020. Retrieved 2020-03-19.
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