|Adient opens new corporate office in Shanghai|
Shanghai, January 5, 2016 - Adient (NYSE:ADNT), the world's largest global automotive seating supplier, today announced the opening of a new corporate office in Shanghai, China. To celebrate this milestone, Adient hosted a grand opening ceremony attended by local government officials, Adient employees and business leaders.
The office, located in Park Place Office Tower and situated in the heart of the city's central business district, houses approximately 280 employees from all corporate and business functions including finance, treasury, tax, legal, IT, HR, procurement, quality, program management, business development, operations, and R&D.
The new corporate office has been certified as the Regional Headquarters by Shanghai Municipal Commission of Commerce. It will serve as the management company for Adient as it grows its businesses in China.
Adient debuted as an independent, publicly traded company after its separation from Johnson Controls (NYSE:JCI) on October 31, 2016. The company recently announced the opening of its West Coast business office in San Jose, California, and its investment plan to establish the company's global headquarters in Detroit's downtown district.
|Ribbon-cutting ceremony attended by local government officials and Adient management team|
"China is an important part of Adient's growth strategy, and this move reaffirms our commitment to invest in China, one of the most dynamic markets around the world," said Adient's Chairman and Chief Executive Officer R. Bruce McDonald. "The opening of our new corporate office in Shanghai signifies an important move for us as we look drive global and profitable growth and, ultimately, bring value to our shareholders, customers and employees."
Adient has 31,000 employees, and 17 seating joint ventures (JVs) operating 64 manufacturing plants in 34 cities across China. In fiscal year 2016, Adient generated $7.5B in sales revenue in China, mostly from unconsolidated joint ventures. The company is now the largest global automotive seating supplier in China, supporting all major automakers in differentiating vehicles through superior quality, technology and performance.
"We are excited about the opportunities in the growing China market. We built all of the necessary capabilities in our new corporate office in Shanghai to facilitate our focused growth in the region." said Darlene Knight, vice president of Adient China. "I am confident that our customers, JV partners and employees will benefit from the world-class environment of our new office. We are committed to being a good partner, a good employer, a good corporate citizen and a vital part of the community."
Adient hosts a grand opening ceremony for the company’s new corporate office in Shanghai
In China, Adient has a 30/70 percent global interiors joint venture, called Yanfeng Automotive Interiors. This is a joint venture with Yanfeng Automotive Trim Systems Co., Ltd., a wholly owned subsidiary of Huayu Automotive Systems Co., Ltd (HASCO) (SHA:600741), the component group of SAIC Motor Corporation Limited (SAIC Motors) (SHA:600104). The joint venture is the largest automotive interiors company in the world with revenue of approximately $8.5 billion with a backlog to reach $10 billion in the next few years.
In addition to Shanghai, China, Adient also has corporate offices in Plymouth, Michigan, Burscheid, Germany, and Milwaukee, Wisconsin.
About Adient PLC
Adient PLC (NYSE:ADNT) is a 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 www.adient.com
SAIC Motor Corporation Limited
Johnson Controls, Inc.
HUAYU Automotive Systems Co Ltd