Adient, plc and Boeing today announced the formation of Adient Aerospace, a joint venture that will develop, manufacture, and sell a portfolio of seating products to airlines and aircraft leasing companies.
The seats will be available for installation on new airplanes and as retrofit configurations for aircraft produced by Boeing and other commercial airplane manufacturers.
The joint venture between Adient, the global leader in automotive seating, and Boeing, the world's largest aerospace company, addresses the aviation industry's need for more capacity in the seating category, superior quality and reliable on-time performance.
Adient Aerospace will benefit from the world-class engineering teams and innovative cultures at both companies, as well as shared expertise in managing complex, global supply chains.
Adient Aerospace's headquarters, technology center and initial production plant will be located in Kaiserslautern, Germany, near Frankfurt. The joint venture's initial customer service center will be based in Seattle, Washington. Adient Aerospace aftermarket spare parts distribution will be performed exclusively through Aviall, a wholly owned subsidiary of Boeing.
Adient is the majority stakeholder in the new company with a 50.01% share) and expects the joint venture to be included in its consolidated financial statements. Boeing, as 49.99% partner, will receive a proportionate share of the earnings and cash flow. Both will have representation on Adient Aerospace's board of directors.
Industry analysts forecast the commercial aircraft seating market to grow from approximately US$ 4.5 billion in 2017 to US$ 6 billion by 2026.
Adient owns 13 facilities in Mexico located in the states of Chihuahua (3), Coahuila (5), State of Mexico, Tamaulipas, Puebla, Queretaro and Tlaxcala.