Mexican Media Brands
Takata Agrees to Sell Interiors Business
Struggling airbag maker Takata Inc. has agreed to sell its Irvin Automotive interior component operations to the Piston Group for a reported 17 billion yen ($169 million).
Pontiac, Mich.-based Irvin generates about $500 million in revenue annually by selling such items as seat trim and cargo shades.
#interior #economics
Share
Struggling airbag maker Takata Inc. has agreed to sell its Irvin Automotive interior component operations to the Piston Group for a reported 17 billion yen ($169 million).
Pontiac, Mich.-based Irvin generates about $500 million in revenue annually by selling such items as seat trim and cargo shades. Piston Group, whose main offices are in Redford, Mich., describes itself as a $1.8 billion parts assembler for such companies as Fiat Chrysler Automobiles, Ford, General Motors, Honda, Toyota and ZF.
Piston Group was founded in1995 by Vinnie Johnson, a former star player for the Detroit Pistons basketball team. Irvin’s management team will continue to run the unit, which will operate as a separate company within the Piston Group.
RELATED CONTENT
-
Is Samsung More Clever Than Apple?
Admittedly, one would look at that question, think about the Galaxy Note 7 debacle, and think not.
-
Honda Launches Its Latest Fuel Cell Vehicle
If Honda is anything, it is an engine company.
-
Pacifica Hybrid Explained
Chrysler pioneered the modern-day minivan more than 30 years ago and has been refining and improving that type of vehicle ever since.