BACK TO PRESS RELEASES Yanfeng Enters into Agreement with Adient to Acquire Adient Asia’s 49.99 Percent Share in the Yanfeng Adient Seating Co, Ltd Joint Venture in China Shanghai, China – 03/12/2021 Company also announces additional equity share and controlling interest changes to other joint ventures it holds with Adient in China Yanfeng today announced that it has entered into an agreement with Adient to acquire Adient Asia’s 49.99 percent share in the Yanfeng Adient Seating Co, Ltd (YFAS) joint venture in China. As part of this agreement, Yanfeng takes full ownership of the joint venture and all 16,000 employees, 55 seat manufacturing facilities, a full-service technical center and JARC (headliner company). Current and sourced future programs will transition to Yanfeng. Established in 1997, YFAS has developed independent and complete R&D and manufacturing systems in automotive seating with a wide range of OEM customers. Its products cover complete seats, frames, foam, and headliners. “We believe that making YFAS a wholly-owned entity of Yanfeng further enhances our capabilities and product offering not only in seating but as a full-service supplier through cross-business collaboration,” said Gerald Jia, CEO of Yanfeng. “In the future, the three seating technical centers in Shanghai, Hefei, and Chongqing will join Yanfeng’s existing global innovation and engineering network to offer product and innovation synergies including Interiors, Seating, Safety, and Cockpit Electronics. At the same time, YFAS’ manufacturing locations in China, along with Yanfeng's existing seat manufacturing bases in Thailand, Serbia, and Mexico, will be consolidated to form a complete seat supply capacity and to make it a fully globalized business.” Additional components of the transaction include equity share and controlling interest changes to other joint ventures held by Yanfeng and Adient in China. However, Yanfeng will continue its current JV relationship (Keiper) with Adient in mechanisms. Keiper is a consolidated entity under Yanfeng, focusing on seat mechanism components. The transaction is subject to regulatory approval and is expected to be completed in six months. During this period, Yanfeng will maintain close cooperation with Adient to ensure the smooth transition of the business and the continuity of program execution and delivery and to fully committed to offering one-stop Smart Cabin solutions to global customers. About Yanfeng: Yanfeng is a leading global automotive supplier, focusing on interior, exterior, seating, cockpit electronics, and passive safety, and is exploring new business actively. Yanfeng has more than 240 locations and approximately 55,000 employees worldwide. The technical team of 4,200 experts is in 8 R&D centers and other regional offices, with complete capabilities including engineering and software development, styling, and test validation. Focusing on Smart Cabin and lightweight technology, Yanfeng supports automakers to explore future mobility and provide leading cabin solutions. Media Contact Debra Ortisi Vice President, Communications Public Relations - North America 734 254 5735 debra.ortisi@yanfeng.com EXPERIENCE IN MOTION™ CONTACT US IMPRINT LEGAL INFORMATION PRIVACY NOTICE CODE OF CONDUCT FACEBOOK TWITTER YOUTUBE LINKEDIN © 2021 Yanfeng Automotive Interiors – all rights reserved 沪ICP备15049685号 Cookie Consent By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. You can set your preferences and consent to certain Cookie categories by clicking "Cookies Settings".Cookie Policy Accept All Cookies Cookies Settings