DETROIT, Mar. 27, 2017 /PRNewswire/ -- Adient, plc (NYSE:
ADNT), the world's leading automotive seating and interiors
supplier, today announced it is collaborating with Boeing to
explore innovative comfort, efficiency and functional improvements
to commercial aircraft seating and interiors.
The collaboration brings together two global leaders in their
respective industries. Boeing, the world's leading airplane
manufacturer, is providing insight into the commercial aviation
industry and its technical specifications, as well as an
understanding of FAA certification requirements. Adient is
the largest global supplier of seating and interior systems for the
automotive industry and will contribute expertise in design,
comfort, craftsmanship, operational excellence, and supply chain
management.
"Adient is committed to our strategy of leveraging our strong
global expertise and leadership in automotive seating and interiors
to deliver customer value and competitive advantages in adjacent
mobility markets," said Adient Chairman and CEO Bruce McDonald. "Through discussions with
Boeing, we believe there's an opportunity for Adient to raise the
bar on the aviation passenger experience, building on our
leadership in the automobile seat market."
According to Counterpoint Market Research, LTD, the aircraft
Interiors market is estimated to reach $21.7
billion by 2025, a compounded annual growth rate of 4.3
percent from 2016 to 2025. The industry is consolidated among a
small number of providers.
"Boeing is building commercial airplanes at record rates to
deliver on an order backlog of more than $400 billion," said Kent
Fisher, vice president and general manager, Supplier
Management, Boeing Commercial Airplanes. "We continually explore
opportunities to offer more value to our customers and believe they
would benefit from a wider range of options and more reliable,
on-time performance in the airplane interiors and seating
category."
About Adient:
Adient is a global leader in automotive
seating. With 75,000 employees operating in 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 impact of the spin-off on Adient's businesses, the risk
that disruptions from the spin-off will harm Adient's business,
competitive responses to the spin-off, general economic and
business conditions that affect Adient following the spin-off, the
strength of the U.S. or other economies, automotive vehicle
production levels, mix and schedules, energy and commodity prices,
Adient's relationships with, and the financial condition and
restructuring actions of, its customers and suppliers and OEMs,
Adient's ability to successfully compete with other automotive
suppliers, fluctuations in the production of vehicles or the loss
of business with respect to, or the lack of commercial success of,
a vehicle model for which Adient is a significant supplier, 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 the
information statement filed as Exhibit 99.1 to Adient's
registration statement on Form 10 and amendments thereto, copies of
which may be obtained by visiting the SEC's website at www.sec.gov.
Shareholders, 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.
ADNT-FN
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SOURCE Adient