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Johnson Controls announced on October 31 that its automotive seating business is now the independent, and publicly traded, Adient.
Johnson Controls separation of Adient begun over a year ago when the company announced its plan to spin off the seating business as part of its multi-industrial strategy focussed on making investments in its core growth platforms around building and energy.
"As an independent company, Adient will have the focus and resources necessary to thrive as the world leader in automotive seating, and Johnson Controls is now uniquely positioned for growth as the global leader in products, technologies and integrated solutions for the building and energy sectors”, said Alex Molinaroli, Chairman and CEO, Johnson Controls.
The separation of Adient follows the completion of Johnson Controls' merger with Tyco in September, which generated a combined company of US$30 billion in revenue.