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Mergers & Acquisitions

Asahi Kasei to buy automotive upholstery fabric maker Adient

by Craig Bettenhausen
March 15, 2020 | APPEARED IN VOLUME 98, ISSUE 10

 

Through its Sage Automotive Interiors subsidiary, the Japanese chemical and materials firm Asahi Kasei is buying the auto-fabric business of car-seat maker Adient for $175 million. South Carolina–based Sage, one of the world’s largest suppliers of car-seat fabric, says the Adient business will expand its presence in Europe. Asahi Kasei acquired Sage in 2018 to build its business in synthetic suede and leather for car seats.

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