*This is a machine-translated text of the original article.

On March 5, Sage Automotive Interiors, a subsidiary of Asahi Kasei Corporation, announced a US$175 million (approximately 18.8 billion yen) acquisition agreement for the automotive interior fabric business of Adient plc, a major automotive seat supplier in the United States, with the aim of expanding its business and strengthening its foundation in the European automotive market.

Adient’s automotive interior fabric business, which it acquired this time, has several bases worldwide, mainly in Europe.

The company is also highly regarded for its design capabilities and quality by major European automakers, and it has built a leading position in the European car seat fabric market.

By combining Adient’s automotive interior fabric business with Sage’s business in Europe, the company hopes to cultivate the European market and has reached an agreement after discussions between the two companies.

The Asahi Kasei Group believes that strengthening its ties with automotive manufacturers in each region through the global promotion of Sage’s regional and materials strategies will lead to the Group’s overall expansion in the automotive sector.

Original Text: https://ampmedia.jp/2020/03/06/asahikasei/