A joint venture has been finalised between Indian apparel and textile company Arvind Limited and US-based automotive seating maker Adient. With 50.5 per cent share, Adient is the majority stakeholder in the JV.
The joint venture emerges from a strong arrangement of strategic objectives between Adient and Arvind. It marks an important milestone for Adient’s fabrics business, which to date has had no manufacturing footprint in Asia outside of the company’s businesses in China.
“Arvind Ltd., known for manufacturing excellence – from yarn production through to innovative textile products, will help us to offer the innovative automotive fabrics products to India. It is a matter of pride for us for having a partner like Arvind,” Jef Vercammen, VP, Global Fabrics at Adient.
Based in Ahmedabad, the newly formed company named ‘Adient Arvind Automotive Fabrics’ will manufacture and sell high-end performance fabrics for automotive seating systems in India.
Together, the companies will provide Indian and global automotive companies with top-notch products and innovative solutions in fabrics, higher levels of comfort and design versatility, the statement issued by Adient mentioned.
“Our partnership with Adient is a watershed moment in our journey to transform our business quickly through technologies and collaborations that enable us to explore and create new opportunities across our business divisions,” stated Punit Lalbhai, Executive Director, Arvind Limited while commenting on the formation of the corporation.
It is being said that the business collaboration with Arvind will help Adient to create a strong position in the Indian market.
