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Adient Forms Fabric JV in India
Plymouth, Mich.-based interiors giant Adient plc is teaming with Arvind Ltd. on a joint venture in India to develop and produce fabric for automotive seats.
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Plymouth, Mich.-based interiors giant Adient plc is teaming with Arvind Ltd. on a joint venture in India to develop and produce fabric for automotive seats.
The new company, Adient Arvind Automotive Fabrics, will be based in Arvind’s headquarter city of Ahmedabad, India. Adient will hold a 50.5% stake in the venture, with the remainder going to Arvind.
Founded in 1931, Arvind is a $1.5 billion company that produces everything from yarn and denim to high-end fabrics and advanced materials. The company ships about 300 million meters of fabrics and 30 million pieces of apparel per year.
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