Adient’s seating mechanisms joint venture announces plans for a new 90,000 square-meter plant in Changshu China

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Adient’s seating mechanisms joint venture announces plans for a new 90,000 square-meter plant in Changshu China

Global seating supplier to hire 2,000 new employees as it reinforces its vertical integration strategy and footprint expansion in China

PR Newswire

SHANGHAI, April 19, 2017 /PRNewswire/ – Adient plc (NYSE: ADNT), the world’s leading global automotive seating supplier, today announced plans to open a new 90,000 square meter (970,000 square feet) seating mechanisms plant in Changshu on land of 250,000 square meters (2.7 million square feet), through one of its China joint ventures — Adient Yanfeng Seating Mechanism Co., Ltd. (“AYM”).

AYM will transfer current employees from Shanghai and hire local workers to staff the Changshu plant with approximately 2,000 team members. The plant will have special engineering, testing, prototyping and manufacturing capabilities for seating mechanisms, such as tracks, adjusters, latches and related parts. The plant will supply major automakers in China and abroad, including Volkswagen, GM, Ford, BMW, Daimler, SAIC, Mazda, Honda, Great Wall and Chang’an.

“Adient is dedicated to reinforcing vertical integration in core seating mechanisms technologies and providing our customers with state-of-the-art products manufactured locally in China,” said Darlene Knight, vice president of Adient China. “With the opening of the new plant in Changshu, Adient plans to further expand our footprint and capacities in China.”

AYM plans to start moving production lines and hiring employees later this year with an anticipation of having the plant operational in Q4 2018. AYM will put in additional capabilities and processes as well during the remainder of the year including stamping, electrophoretic painting, welding, fine-blanking, heat treatment and assembly. Terms of the plant construction and investment have not been released by AYM.

“This strategic move and expansion will enable us to generate sustainable growth in seating mechanisms businesses and to strengthen our market leadership in China,” said Knight.

As the industry-leading seating mechanisms supplier in China, AYM has full-service, world-class capabilities from product design and development, engineering, prototyping, testing and manufacturing.  [Note to Draft:  We were unable to locate prior disclosure of revenue for this particular China JV.  Consider whether this information would be material and if this press release would be the appropriate place to disclose it for the first time.]

Formed in December 2013, AYM is the 50:50 joint venture between Adient and Yanfeng Automotive Trim Systems Co., Ltd. AYM currently operates its seating mechanisms businesses in a 71,000 square meter (764,237 square feet) campus headquartered in Kangqiao Industry Zone, Shanghai.

About Adient:
Adient is a global leader in automotive seating. With 75,000 employees operating in 230 manufacturing/assembly plants in 33 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.


Cautionary Statement Regarding Forward-Looking Statements:

Adient plc 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 to meet debt service requirements, the availability 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, 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, 2016 filed with the SEC on November 29, 2016 and 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.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/adients-seating-mechanisms-joint-venture-announces-plans-for-a-new-90000-square-meter-plant-in-changshu-china-300441680.html

SOURCE Adient plc

Allison Transmission and China National Heavy Duty Truck Group Corp. to evaluate strategic partnership

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Allison Transmission and China National Heavy Duty Truck Group Corp. to evaluate strategic partnership

U.S. manufacturer of fully automatic transmissions and Chinese producer of commercial-duty trucks will assess opportunities to meet growing demand in China

PR Newswire

SHANGHAI, April 19, 2017 /PRNewswire/ — Allison Transmission Holdings Inc. (NYSE: ALSN) and China National Heavy Duty Truck Group Corp. Ltd. (CNHTC) today announced an agreement to explore a strategic partnership to optimize fully automatic transmission technologies for the Chinese market. Executives from both companies signed a cooperation agreement during a ceremony at Auto Shanghai 2017.

“The heavy-duty truck market in China represents a major growth opportunity for Allison and we’re pleased to jointly investigate ways to partner with CNHTC in this endeavor,” said Chairman and CEO Lawrence E. Dewey of Allison Transmission. “Their leadership and industry expertise are incredible assets to this collaboration.”

CNHTC was founded in 1935 as China’s first heavy-duty truck manufacturer. The company is headquartered in Jinan, Shandong province. Today, CNHTC specializes in the production of vehicles for a variety of applications, including construction, distribution, emergency and mining.

“We believe fully automatic transmissions are the major development direction in many heavy-duty truck applications in China,” said Chairman Ma Chunji of CNHTC. “After evaluating all available torque converter automatic transmission technologies, we look forward to working with Allison and introducing their product to our customers. They are an industry leader known for impeccable quality and lifecycle value.”

Allison Transmission is the world’s largest manufacturer of commercial-duty automatic transmissions and is a leader in hybrid-propulsion systems. Allison Automatics are used in a variety of applications including refuse, construction, fire, distribution, bus, motorhomes, defense and energy. Founded in 1915, the company is headquartered in Indianapolis and has approximately 1,400 independent distributor and dealer locations worldwide.

Allison transmissions use a torque converter for Continuous Power Technology to smoothly multiply engine torque, delivering more power to the wheels. By multiplying engine power, drivers get increased performance, faster acceleration and greater operational flexibility. Manual and automated manual transmissions (AMTs) interrupt power with every shift. Allison transmissions maintain power to the wheels at all times for more productivity, better fuel economy and greater driver comfort and safety. Allison Automatics are globally recognized for their quality and reliability resulting in a greater overall economic value for customers.

Allison and CNHTC will focus on servicing the Chinese market while also exploring other opportunities. In addition to China, CNHTC has a strong presence in South America and has exported products to more than 90 countries overall. Similarly, Allison transmissions are used in more than 100 countries.

About Allison Transmission
Allison Transmission (NYSE: ALSN) is the world’s largest manufacturer of fully automatic transmissions for medium- and heavy-duty commercial vehicles, and is a leader in hybrid-propulsion systems for city buses. Allison transmissions are used in a variety of applications including refuse, construction, fire, distribution, bus, motorhomes, defense and energy. Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA and employs approximately 2,600 people worldwide. With a market presence in more than 80 countries, Allison has regional headquarters in the Netherlands, China and Brazil with manufacturing facilities in the U.S., Hungary and India. Allison also has approximately 1,400 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.

Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release are forward-looking statements, including all statements regarding future financial results. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “plans,” “project,” “anticipate,” “believe,” “estimate,” “predict,” “intend,” “forecast,” “could,” “potential,” “continue” or the negative of these terms or other similar terms or phrases. Forward-looking statements are not guarantees of future performance and involve known and unknown risks. Factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made include, but are not limited to: risks related to our substantial indebtedness; uncertainty in the global regulatory and business environments in which we operate; our participation in markets that are competitive; the highly cyclical industries in which certain of our end users operate; the failure of markets outside North America to increase adoption of fully-automatic transmissions; the concentration of our net sales in our top five customers and the loss of any one of these; future reductions or changes in government subsidies for hybrid vehicles and other external factors impacting demand; U.S. defense spending; general economic and industry conditions; the discovery of defects in our products, resulting in delays in new model launches, recall campaigns and/or increased warranty costs and reduction in future sales or damage to our brand and reputation; our ability to prepare for, respond to and successfully achieve our objectives relating to technological and market developments and changing customer needs; risks associated with our international operations; labor strikes, work stoppages or similar labor disputes, which could significantly disrupt our operations or those of our principal customers; our intention to pay dividends and repurchase shares of our common stock; and other risks and uncertainties associated with our business described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. All information is as of the date of this press release, and we undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in expectations.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/allison-transmission-and-china-national-heavy-duty-truck-group-corp-to-evaluate-strategic-partnership-300441103.html

SOURCE Allison Transmission Holdings Inc.

The Governments of Canada and Quebec are supporting two projects to improve water and wastewater systems in the Montréal area

The Governments of Canada and Quebec are supporting two projects to improve water and wastewater systems in the Montréal area

Canada NewsWire

MONTRÉAL, April 18, 2017 /CNW/ - The governments of Canada and Quebec are safeguarding public health and helping protect the province’s waterways by investing in projects to ensure that water and wastewater systems in the province are up to date and efficient and meet communities’ increasing capacity needs. These investments will also help create jobs and grow the economy.

The Honourable Marc Garneau, Minister of Transport and Member of Parliament for Notre-Dame-de-Grâce–Westmount, on behalf of the Honorable Amarjeet Sohi, Minister of Infrastructure and Communities, and Martin Coiteux, Minister of Municipal Affairs and Land Occupancy, Minister of Public Security and Minister Responsible for the Montréal area, announced an investment of nearly $84.4 million for two water projects in the Montréal area under the Clean Water and Wastewater Fund (CWWF).

This financial support granted to the City of Montréal and the Town of Montréal West will contribute to maintaining, renewing or developing their infrastructure to ensure the production and distribution of quality drinking water for residents or the proper disposal and treatment of wastewater.

The Government of Canada is investing more than $50.8 million for these projects, and the Government of Quebec is providing more than $33.5 million for a total joint contribution of more than $84.4 million. The municipalities will provide the remainder of the funding.

Quotes

“These vital investments in Montréal’s water infrastructure reflect the Government of Canada’s commitment to ensuring access to sustainable and adequate services for Canadians for years to come. We will continue working in close collaboration with our partners to ensure we make smart infrastructure investments that help protect the environment, clean up the St. Lawrence River and preserve public health, while paving the way for economic growth and for the creation of good-paying middle class jobs.”

The Honorable Marc Garneau, Minister of Transportation and Member of Parliament for Notre-Dame-de-Grâce‒Westmount, on behalf of the Honorable Amarjeet Sohi, Minister of Infrastructure and Communities

“Thanks to the federal-provincial agreement of the Clean Water and Wastewater Fund, the City of Montréal and the Town of Montréal West will be able to complete important projects to meet their needs. The financial support announced today clearly shows how working in partnership is improving the quality of life of our fellow citizens.”

Martin Coiteux, Minister of Municipal Affairs and Land Occupancy, Minister of Public Security, and Minister Responsible for the Montréal area

“Water has always been a priority for our administration. Expenditures on water infrastructure have increased from $93 million to $261 million per year over three years! But this is not enough to offset the maintenance deficit that has accumulated. That is why, we announced an expansion plan last fall that would triple investments and results over the next ten years. This is a responsible and balanced response to today’s water issues. I thank the governments for the urgent action taken. This generous financial support will enable Montréal to reach its target of eliminating its water and wastewater maintenance deficit within ten years.”

Denis Coderre, Mayor of Montréal

Quick Facts

  • The City of Montréal will receive close to $83 million for the renewal of its water pipes, with $49,987,144 coming from the Government of Canada and $32,991,520 from the Government of Quebec.
  • The Town of Montréal-West will benefit from more than $1.4 million in government funding for the renewal of its water pipes, with $869,096 coming from the Government of Canada and $573,604 from the Government of Quebec.
  • Thanks to its base financial assistance rate of 83%, the CWWF is allowing municipalities to invest almost $800 million in infrastructure projects. Over the period of 2016 to 2018, the federal government will provide $363.8 million and the provincial government will provide $300 million for a total joint investment of $664 million. The implementation of the CWWF was made possible by the signing of a bilateral agreement between Canada and Quebec in July 2016, which made funding available for water projects across the province.
  • This fund is part of the Investing in Canada plan, the Government of Canada’s historic plan that provides more than $180 billion in infrastructure funding to improve public transit, green infrastructure, social infrastructure, transportation that supports trade, and Canada’s rural and northern communities.
  • Budget 2017 proposed $21.9 billion over 11 years for investments for green infrastructure. This amount includes $5 billion that will be available for investment through the Canada Infrastructure Bank.

Associated Links

Government of Canada’s $180-billion+ infrastructure plan in Budget 2017: http://www.budget.gc.ca/2017/docs/plan/chap-02-en.html#Toc477707375

See how investments in the Clean Water and Wastewater Fund are being used in Quebec and across Canada: http://www.infrastructure.gc.ca/pt-sp/index-eng.html

Federal investments in infrastructure projects in Quebec: http://www.infrastructure.gc.ca/map-carte/index-eng.html.

The CWWF financial assistance program: http://www.mamot.gouv.qc.ca/infrastructures/programmes-daide-financiere/fonds-pour-leau-potable-et-le-traitement-des-eaux-usees-fepteu/

 

SOURCE Infrastructure Canada

View original content: http://www.newswire.ca/en/releases/archive/April2017/18/c2528.html