Adient

Adient plc[1]
Public
Traded as
Predecessor Automotive Experience division of Johnson Controls International[2]
Founded October 31, 2016 (2016-10-31)[2]
Number of locations
 250 manufacturing/assembly plants (2017)[2]
Area served
 Worldwide
Key people
 Frederick "Fritz" Henderson CEO[3]
Revenue US$17 billion (2016)[2]
Number of employees
 86,000 (2017)[2]
Website adient.com

Adient plc is an automotive parts manufacturer focused on automotive seating with global operations based in Plymouth, Michigan.[4] As of 2017, Adient was the world's largest auto seat manufacturer and accounted for one-third of global revenue in this sector, providing components for 25 million vehicles.[2]

Adient was founded as a spin-off from Johnson Controls in 2016,[4] at which time its legal domicile was established in Dublin, Ireland.[2] Johnson Controls had entered the automotive seating business in 1985 by acquiring Hoover Universal.[5] 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,[6] and which was anticipated to increase the company's revenue by $0.5 billion annually.[4]

As of 2017, Adient employed 86,000 people across 250 manufacturing/assembly plants,[2] in 34 countries.[4][Nt 1] In 2016, Adient announced plans to move its global operating headquarters to the Marquette Building in Detroit[7], but canceled those plans as of June 2018[8].

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.[9]

Notes

  1. ↑ It is unclear whether this number includes assets acquired through Futuris.

References

  1. 1 2 Walker, Timothy (1 November 2016). "Adient plc (ADNT) Starts Trading on NYSE after Spinoff from Johnson Controls (JCI)". Economic Calendar. Phi Capital Management LLC. Retrieved 27 January 2018.
  2. 1 2 3 4 5 6 7 8 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).
  3. ↑ "Adient Announces Leadership Transition Plan" (Press release). Adient. 11 June 2018.
  4. 1 2 3 4 "Adient Investors Meeting". Adient Components Ltd. November 2017. Retrieved 30 August 2018.
  5. ↑ Daniels, Lee A. (1985-03-05). "Johnson Buying Hoover Universal". The New York Times. ISSN 0362-4331. Retrieved 2018-08-29.
  6. ↑ 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.
  7. ↑ Wayland, Michael (30 November 2016). "Adient moving to downtown Detroit's Marquette Building". The Detroit News. Retrieved 2017-12-04.
  8. ↑ "Auto supplier Adient cancels move to downtown Detroit. Here's why". Detroit Free Press. Retrieved 2018-07-05.
  9. ↑ "Boeing, Adient Launch New Company to Design and Build Airplane Seats" (Press release). Adient. 16 January 2018 – via PRNewswire.
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