Arvind And Adient Launch Joint Venture To Manufacture And Sell Automotive Fabrics
Arvind Limited, one of the world's largest textile-to-retail conglomerates and Adient, the global leader in automotive seating announced the formation of Adient Arvind Automotive Fabrics, a joint venture that will develop, manufacture and sell automotive fabrics in India.
Adient Arvind Automotive Fabrics will be based in Ahmedabad, India, where it will manufacture high-end performance fabrics for automotive seating systems at a world-class fabric manufacturing facility. The joint venture will benefit from synergies between Adient and Arvind, each bringing industry-leading technology and design capabilities in their respective fields. Working closely with its customers on long-term product roadmaps, the new company will provide Indian and global automakers with unrivalled product quality and innovative solutions in fabrics, enabling them to deliver new levels of comfort, aesthetic variety and design versatility to end users in India.
Adient is the majority stakeholder in the new company with a 50.5 percent share and expects the joint venture to be included in its consolidated financial statements. Arvind and Adient will each have representation on the board of directors of Adient Arvind Automotive Fabrics.