Takata, the embattled Japanese manufacturer of rupture-prone airbags, has put its automotive interiors division up for sale in a move to improve the company’s balance sheet as recall costs mount.
Takata is seeking buyers for Irvin Automotive Products of Pontiac, Michigan, USA, a supplier of seat trim, headrest covers, sun visors, armrests and console lids.
Irvin employs around 7,100 people and has annual revenues of US$500m. The company has grown sales significantly over the past several years and has factories running at full capacity producing parts.
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