BOE­ING, ADIENT LAUNCH NEW COM­PANY TO DE­SIGN AND BUILD AIR­PLANE SEATS

SP's Airbuz - - News Brief -

Boe­ing and Adient 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 Boe­ing, the world’s largest aero­space com­pany, and Adient, the global leader in au­to­mo­tive seat­ing, ad­dresses the avi­a­tion in­dus­try’s needs 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 has a strong set of trans­fer­able com­pe­ten­cies that will of­fer a unique op­por­tu­nity to cre­ate value for our com­pany and for Boe­ing, our share­hold­ers and the broader com­mer­cial air­craft mar­ket,” said Adient chair­man and CEO Bruce Mc­Don­ald. “To en­hance the cus­tomer ex­pe­ri­ence for pas­sen­gers, air­lines and com­mer­cial air­plane man­u­fac­tur­ers, we will ap­ply our un­matched ex­per­tise for com­fort and crafts­man­ship along with our rep­u­ta­tion for op­er­a­tional ex­cel­lence.”

Adient Aero­space’s op­er­a­tional 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 (50.01 per cent share) and ex­pects the joint ven­ture to be in­cluded in its con­sol­i­dated fi­nan­cial state­ments. Boe­ing (as 49.99 per cent 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 $4.5 bil­lion in 2017 to $6 bil­lion by 2026.

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