Adient announced its debut as an independent, publicly traded corporation and the completion of its separation from Johnson Controls, International. The company’s common stock begins trading today on the New York Stock Exchange under the symbol “ADNT.”
Adient’s Chairman and Chief Executive Officer R. Bruce McDonald and other members of Adient’s executive management team are participating in the opening bell-ringing ceremony on the floor of the New York Stock Exchange to celebrate the official “day one” for Adient.
“Ringing the opening bell at the New York Stock Exchange is more than symbolic,” said McDonald. “It signifies Adient’s ability to operate as an independent company and invest in the business to drive profitable growth and, ultimately, value to our shareholders, customers and employees.”
Adient is one of the world’s largest global automotive seating supplier, supporting all major automakers in differentiating vehicles through superior quality, technology and performance. With 75,000 employees, the company operates 230 manufacturing & assembly plants in 33 countries. In addition, Adient is well-positioned in the growing China market, where it has 17 seating joint ventures (JVs) operating 60 manufacturing locations in 32 cities.
The distribution of Adient ordinary shares took place at 12:01 a.m. ET on October 31, 2016. As an independent company.
Adient plans to increase investments in innovative products and technologies that address trends such as autonomous driving, electrification, slim and lightweight seating, and consumer personalization. The company also expects to take advantage of opportunities in adjacent markets outside of the traditional automotive industry, such as in commercial vehicle, passenger train and aircraft seating.