Adient, Boeing Launch New Company to Design and Build Airplane Seats (FOTO)

DETROIT (ots) -

Adient Aerospace will develop, manufacture, and sell a portfolio
of seating products to airlines and leasing companies

Adient, plc (NYSE: ADNT) and Boeing (NYSE: BA) 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 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."

"Seats have been a persistent challenge for our customers, the
industry and Boeing, and we are taking action to help address
constraints in the market. Adient Aerospace will leverage Boeing's
industry leadership and deep understanding of customer needs and
technical requirements, to provide a superior seating product for
airlines and passengers around the world," said Kevin Schemm, senior
vice president of Supply Chain Management, Finance & Business
Operations and chief financial officer for Boeing Commercial
Airplanes. "This joint venture supports Boeing's vertical integration
strategy to develop in-house capabilities and depth in key areas to
offer better products, grow services and generate higher lifecycle
value."

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 (50.01
percent share) and expects the joint venture to be included in its
consolidated financial statements. Boeing (as 49.99 percent 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.

About Adient:

Adient is the global leader in automotive seating. With 85,000
employees operating 238 manufacturing/assembly plants in 34 countries
worldwide, we produce and deliver automotive seating for all vehicle
classes and all major OEMs. From complete seating systems to
individual components, our expertise spans every step of the
automotive seat making process. Our integrated, in-house skills allow
us to take our products from research and design all the way to
engineering and manufacturing - and into more than 25 million
vehicles every year. For more information on Adient, please visit
adient.com.

About Boeing:

Boeing is the world's largest aerospace company and leading
manufacturer of commercial airplanes and defense, space and security
systems. Boeing is also the world leader in combined commercial
airlines and government services with customers in more than 150
countries. The company's products and tailored services include
commercial and military aircraft, satellites, weapons, electronic and
defense systems, launch systems, advanced information and
communication systems, and performance-based logistics and training.
Boeing employs approximately 140,000 people across the United States
and in more than 65 countries. Company revenues for 2016 were $94.6
billion.

Cautionary Statement Regarding Forward-Looking Statements:

Adient has made statements in this document that are
forward-looking and, therefore, are subject to risks and
uncertainties. All statements in this document other than statements
of historical fact are statements that are, or could be, deemed
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. In this document,
statements regarding Adient's future financial position, sales,
costs, earnings, cash flows, other measures of results of operations,
capital expenditures or debt levels and plans, objectives, outlook,
targets, guidance or goals are forward-looking statements. Words such
as "may," "will," "expect," "intend," "estimate," "anticipate,"
"believe," "should," "forecast," "project" or "plan" or terms of
similar meaning are also generally intended to identify
forward-looking statements. Adient cautions that these statements are
subject to numerous important risks, uncertainties, assumptions and
other factors, some of which are beyond Adient's control, that could
cause Adient's actual results to differ materially from those
expressed or implied by such forward-looking statements, including,
among others, risks related to: the ability of Adient Aerospace to
successfully implement its strategic initiatives or realize the
expected benefits of the joint venture, the ability of Adient to meet
debt service requirements, the ability and terms of financing,
general economic and business conditions, the strength of the U.S. or
other economies, automotive vehicle production levels, mix and
schedules, energy and commodity prices, the availability of raw
materials and component products, currency exchange rates, the
ability of Adient to effectively integrate the Futuris business, and
cancellation of or changes to commercial arrangements. A detailed
discussion of risks related to Adient's business is included in the
section entitled "Risk Factors" in Adient's Annual Report on Form
10-K for the fiscal year ended September 30, 2017 filed with the SEC
on November 22, 2017 and quarterly reports on Form 10-Q filed with
the SEC, available at www.sec.gov. Potential investors and others
should consider these factors in evaluating the forward-looking
statements and should not place undue reliance on such statements.
The forward-looking statements included in this document are made
only as of the date of this document, unless otherwise specified,
and, except as required by law, Adient assumes no obligation, and
disclaims any obligation, to update such statements to reflect events
or circumstances occurring after the date of this document.

In addition, this document includes certain projections provided
by Adient with respect to the anticipated future performance of
Adient's businesses. Such projections reflect various assumptions of
Adient's management concerning the future performance of Adient's
businesses, which may or may not prove to be correct. The actual
results may vary from the anticipated results and such variations may
be material. Adient does not undertake any obligation to update the
projections to reflect events or circumstances or changes in
expectations after the date of this document or to reflect the
occurrence of subsequent events. No representations or warranties are
made as to the accuracy or reasonableness of such assumptions or the
projections based thereon.

Contact:
Adient: Ulrich Andree
T +49 2174 65-4343
ulrich.andree@adient.com

Boeing Communications
T +1 312 544-2002

Original-Content von: Adient Ltd. & Co. KG, übermittelt durch news aktuell