SHANGHAI, April 19, 2017 /PRNewswire/ -- Adient plc (NYSE: ADNT), the world's leading global automotive seating supplier, is unveiling several products and concepts at Auto Shanghai 2017, including many that were designed and engineered in China for the local, regional and global automotive industry.
Adient, created when Johnson Controls' automotive seating business was spun off as an independent company in 2016, will be showcasing its AI17 level 3/4 autonomous vehicle seating demonstrator. Adient, through one of its China joint ventures, Adient Yanfeng Seating Mechanism Co., Ltd. ("AYM"), today announced plans to expand its metals and mechanisms plant into a new 970,000 square foot plant to be built in Changshu that will employ 2,000 employees, comprised of current employees and new local hires.
"China is a key market for us globally, which makes Auto Shanghai an important industry show to introduce Adient to our China and regional customers," said Darlene Knight, Adient vice president and head of China operations. "China is a great story for Adient. Our unconsolidated seating revenue, driven primarily through our strategic JV network in China, grew approximately 13 percent year-on-year, excluding the impact of foreign exchange."
According to Adient's VP of Global Innovation, Richard Chung, there are many exciting products being shown at Auto Shanghai, including:
"As automated driving technology advances, the interior will become the focus for consumers," said Chung. "The seating system will influence and enable experiences and interactions that deliver more emotional and physical enjoyment; that is why many of our products and concepts on display here in Shanghai are driving toward the future of autonomous driving."
Additionally, Adient's Recaro Automotive Seating group is preparing its market launch in China as the premium brand manufacturer of performance seats for sporty luxury vehicles. Adient's product group is presenting tailor-made products for Chinese OEM customers and for aftermarket applications in China during Auto Shanghai.
Adient's exhibit in Booth 5BA001, Hall 5.2, National Exhibition and Convention Center (Shanghai) will be open to media and invited guests April 19-20 and to the public through April 28.
Adient in China:
Adient has 17 seating joint ventures in China, employing approximately 31,000 team members in three global technical centers and 67 plants in 37 locations across the country.
About Adient:
Adient is the global leader in automotive seating. With 75,000 employees operating 230 manufacturing/assembly plants in 33 countries worldwide, we produce and deliver automotive seating for all vehicle classes and all major OEMs. From complete seating systems to individual components, our expertise spans every step of the automotive seat making process. Our integrated, in-house skills allow us to take our products from research and design all the way to engineering and manufacturing – and into more than 25 million vehicles every year. For more information on Adient, please visit adient.com.
Cautionary Statement Regarding Forward-Looking Statements:
Adient plc has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, deemed "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding Adient's future financial position, sales, costs, earnings, cash flows, other measures of results of operations, capital expenditures or debt levels and plans, objectives, outlook, targets, guidance or goals are forward-looking statements. Words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," forecast," "project" or "plan" or terms of similar meaning are also generally intended to identify forward-looking statements. Adient cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Adient's control, that could cause Adient's actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks related to: the ability of Adient to meet debt service requirements, the availability and terms of financing, general economic and business conditions, the strength of the U.S. or other economies, automotive vehicle production levels, mix and schedules, energy and commodity prices, the availability of raw materials and component products, currency exchange rates, and cancellation of or changes to commercial arrangements. A detailed discussion of risks related to Adient's business is included in the section entitled "Risk Factors" in Adient's Annual Report on Form 10-K for the fiscal year ended September 30, 2016 filed with the SEC on November 29, 2016 and available at www.sec.gov. Potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this document are made only as of the date of this document, unless otherwise specified, and, except as required by law, Adient assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this document. In addition, this document includes certain projections provided by Adient with respect to the anticipated future performance of Adient's businesses. Such projections reflect various assumptions of Adient's management concerning the future performance of Adient's businesses, which may or may not prove to be correct. The actual results may vary from the anticipated results and such variations may be material. Adient does not undertake any obligation to update the projections to reflect events or circumstances or changes in expectations after the date of this document or to reflect the occurrence of subsequent events. No representations or warranties are made as to the accuracy or reasonableness of such assumptions or the projections based thereon.
Photo - http://mma.prnewswire.com/media/491218/AI17_Front_Seat_Greeting_Mode.jpg
