“The sale is in line with Adient`s ongoing strategy of focusing on the core business of large seats. Withdrawals from the sale amounted to approximately $175 million,” the supplier said in a statement. Although only announced in recent days, seat supplier Adient sold its Recaro business in a transaction effective January 1, 2020 to Raven Acquisitions, a Detroit-based private equity firm. Sage Automotive Interiors takes over Adient`s automotive materials business, seating supplier Adient amends its previously announced agreement with Yanfeng Automotive Trim Systems (Yanfeng) to change existing joint venture relationships. Adient continues its strategy of focusing on the core business, with large seats, in order to restore profitability. Tags:Adient-Business Adient-Sage Automotive Doug Del Grosso Sage Automotive Interiors Investment Adient made forward-looking statements in this document and are therefore subject to risks and uncertainties. All statements contained in this document, along with any of the statements of historical fact, are statements considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 or that could be considered “forward-looking statements.” This document describes the outcome, benefits and synergies of the transactions described here or Adient`s future financial position, revenue, cost, result, cash flow, other indicators of business results, investments or liabilities and plans, objectives, prospects, objectives, guidelines or objectives. Words such as “may,” “will,” “want,” “intend,” “appreciate,” “anticipate,” “believe,” “should,” “forecast,” “project” or “project” or “plan” or terms of similar importance should generally identify forward-looking statements. Adient cautions that such statements are subject to numerous risks, uncertainties, assumptions and other material factors, some of which are outside Adient`s sphere of influence, which could have the effect of materially deferring Adient`s actual results from the results expressed or induced by such forward-looking statements, including, among other things, the risks associated with Adient`s ability to close its fabric business, including obtaining the necessary administrative approvals. , Adient`s ability to complete transactions subject to the Yanfeng Agreement, the effects of tax reform legislation by the Tax Cuts and Jobs Act, uncertainties in U.S.
administrative policy regarding trade agreements, customs duties and other international trade relations, Adient`s ability to execute its SS-M Turnaround plan, Adient`s ability to identify , recruit and retain important executives, Adient`s ability, debt servicing requirements, financing capacity and conditions, general economic and commercial conditions, U.S. strength.