The partners will work towards bringing leading technology and design capabilities from their respective fields, and look at serving both domestic and international clients.
21 Mar 2018 | 6558 Views | By Autocar Professional Bureau
Global leader in automotive fabrics, Adient has announced the launch of its joint venture (JV) with Arvind Group, for manufacturing and selling of automotive fabrics in India. The JV christened Adient Arvind Automotive fabrics will produce high-performance fabrics from the manufacturing facility in Ahmedabad for domestic and global markets.
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Global leader in automotive fabrics, Adient has announced the launch of its joint venture (JV) with Arvind Group, for manufacturing and selling of automotive fabrics in India. The JV christened Adient Arvind Automotive fabrics will produce high-performance fabrics from the manufacturing facility in Ahmedabad for domestic and global markets.
The JV will benefit from synergies between the partners that will bring leading technology and design capabilities from their respective fields. The JV will work closely with its customers on long-term product road maps, and 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 committed to delivering new value to our customers while enhancing our fabrics product portfolio through continuing advancements. This partnership with Arvind Limited gives us an exciting opportunity to do just that in India's rapidly growing automotive market. Combining Adient's global fabrics design and technological resources with Arvind's extensive manufacturing capabilities will enable us to accelerate the pace at which we bring innovative automotive fabrics products to market in India," said Jef Vercammen, vice president, Global Fabrics at Adient.
Punit Lalbhai, executive director, Arvind Group, said: "We are transforming our business quickly through technologies and partnerships that enable us to explore and create new opportunities across our business divisions. One of our key pillars is to extend textile manufacturing into newer frontiers outside of fashion and into various spaces like human protection, construction and transport. This partnership is a watershed moment in this journey. The partnership will leverage Adient's market presence and automotive expertise with Arvind's textile manufacturing capabilities to provide customers superior and high-quality automotive seating solutions.”
Murali Rajagopalan, director and country manager, Adient India, said: “We are delighted to be partnering with Arvind, a well-respected leader in the textiles industry with a long history of manufacturing excellence, from yarn production through to innovative textile products. Through this collaboration Adient will gain a strong position from which to serve our Indian and global customers and ultimately offer more value to consumers in India."
According to the JV Adient will be 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. The board of directors will see representation from Arvind and Adient both in Adient Arvind Automotive Fabrics.