Takata to sell automotive interiors division


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.

For the full story, see the March 2016 edition of MobileTex. Not a subscriber? Sign up HERE