Adient sells stake in Yanfeng Automotive Interior to Chinese partner for USD379 million
Company also extends the term of its seating JV with Yanfeng Automotive to 31 December 2038
Adient has reached an agreement with Yanfeng Automotive Trim Systems to sell its 30% stake in joint venture (JV), Yanfeng Automotive Interior (YFAI), for USD379 million, the company said in a press release on 31 January. Adient and Yanfeng Automotive also agreed to extend the term of another JV, Yanfeng Adient Seating (YFAS) to 31 December 2038.
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