Adient completes deal for automotive interior design - leatherbiz: Lea Leatherbiz

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Adient completes deal for automotive interior designer

26/09/2017
Automotive seating group Adient has completed the acquisition of Futuris Group, a designer and manufacturer of automotive seating and interior systems that has 15 factories in North America and Asia.

Adient has said it paid approximately $360 million for the company, including the assumption of around $18 million in net debt.

It expects the acquisition to add approximately $500 million to its annual revenue. It added that the incorporation of Futuris will provide “substantial synergies” due to vertical integration and improvements in purchasing and logistics. 

The deal was first announced in August. 

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