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Pricol to acquire PMP Auto Components

  8
 May 21, 2024

The joint venture, Adient Arvind Automotive Fabrics, is based in Ahmedabad and produces advanced performance fabrics for automotive seating systems, the company said.

Adient Arvind, a global leader in automotive seating, and Limited, India’s leading textile retail group, on Tuesday announced the formation of Adient Arvind Automotive Fabrics, a joint venture to develop, manufacture and market automotive fabrics in India.

Adient Arvind Automotive Fabrics will be headquartered in Ahmedabad, India, where it will manufacture high-quality products. The joint venture will be in Adientt and Arvind Both parties will contribute industry expertise in their respective fields, the company said in a statement. top technology and design capabilities.

“Adient is committed to strengthening our fabrics portfolio through continuous advancements that provide new value to our customers,” Adient” Arvind’s global fabric design and technical resources The combination of extensive operations provides the fast-growing Indian automotive market with exciting opportunities. The manufacturing capabilities will enable us to accelerate the pace of bringing automotive textile innovations to the Indian market.

“We are rapidly transforming our business through technology and partnerships that enable us to explore and create new opportunities in our business areas. One of our core pillars is to expand our textile manufacturing into new areas beyond fashion, as well as diversified areas such as human care, construction and transportation. Arvind Limited Punititpunitititit Lalbhai “This partnership is a significant moment for us to enter the market and utilize Adient automotive expertise and Arvind textile manufacturing capabilities.”

Murali Rajagopalan, Director and Regional Manager, Andorra India “This partnership will put Andorra in a strong position to serve customers in India and globally, and ultimately bring more value to Indian consumers.”

Andotop is the majority shareholder with a 50.5% stake in the new company and the joint venture is expected to be included in the consolidated financial statements. Arvind and Adient are each represented on the board of directors of Adient Arvind Automotive Fabrics.

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