AKC Note: The investment is being made in the automotive fabric interior sector where there is substantial change taking place as some of the major global suppliers have announced they are pulling away from the business.
- July 2015: Johnson Controls Inc (JCI) combined its automotive interiors business with Yanfeng, a Chinese producer with whom JCI already had a strong relationship. The new company Yanfeng Automotive Interiors is the largest automotive interiors company in the world and is 70% Yanfeng and 30% JCI and is based in Shanghai. Yanfeng recently announced a $55 million new plant in Tennessee to service the VW plant in Chattanooga.
- August 2015: Magna, the Canadian automotive parts supplier, sold its automotive trim business to the Spanish company Grupo Antolin in August. Antolin claim to be the largest headliner producer in the world.
- April 2015: Faurecia the 6th largest automotive parts company in the world with a large part in the interiors business, entered into a j/v with the Chinese automaker Dongfeng.
“The times they are a’ Changing” (as the great Bob Dylan said in 1964) in the automotive interiors business!
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