2021-04
13
April 6, 2021, seven volunteers from Go A!head Project, a public welfare brand of the company, traveled thousands of miles to Tongliao City, Horqin Region, Inner Mongolia to participate in the "Shanghai Roots and Shoots Million Tree Planting Project". This is the 4th year that the company has participated in this activity. We have planted 8000 pine trees, which has formed a large-scale public welfare forest.
2021-03
12
SHANGHAI – MARCH 12, 2021 - Yanfeng today announced that it has entered into an agreement with Adient to acquire Adient Asia’s 49.99 percent share in the Yanfeng Adient Seating Co, Ltd (YFAS) joint venture in China. As part of this agreement, Yanfeng takes full ownership of the joint venture and all 16,000 employees, 55 seat manufacturing facilities, a full-service technical center and JARC (headliner company). Current and sourced future programs will transition to Yanfeng.
Established in 1997, YFAS has developed independent and complete R&D and manufacturing systems in automotive seating business with a wide range of OEM customer base. Its products cover complete seat, frame, foam, headliner, etc.
“We believe that making YFAS a wholly owned entity of Yanfeng further enhances our capabilities and product offering not only in seating, but as a full-service supplier with through cross-business collaboration,” said Gerald Jia, CEO of Yanfeng. “In the future, the three seating technical centers in Shanghai, Hefei and Chongqing will join Yanfeng’s existing global innovation and engineering network to offer product and innovation synergies including Interiors, Seating, Safety and Cockpit Electronics. At the same time, YFAS’ manufacturing locations in China, along with Yanfeng's existing seat manufacturing bases in Thailand, Serbia and Mexico, will be consolidated to form a complete seat supply capacity and to make it a fully globalized business.”
Additional components of the transaction include equity share and controlling interest changes to other joint ventures held by Yanfeng and Adient in China.However, Yanfeng will continue its current JV relationship (Keiper) with Adient in mechanisms. Keiper is a consolidated entity under Yanfeng, focusing on seat mechanism components.
The transaction is subject to regulatory approval and is expected to be completed in six months. During this period, Yanfeng will maintain close cooperation with Adient to ensure the smooth transition of the business and the continuity of program execution and delivery, and to fully committed to offering a one-stop Smart Cabin solutions to global customers.
SHANGHAI – MARCH 12, 2021 - Yanfeng today announced that it has entered into an agreement with Adient to acquire Adient Asia’s 49.99 percent share in the Yanfeng Adient Seating Co, Ltd (YFAS) joint venture in China. As part of this agreement, Yanfeng takes full ownership of the joint venture and all 16,000 employees, 55 seat manufacturing facilities, a full-service technical center and JARC (headliner company). Current and sourced future programs will transition to Yanfeng.
Established in 1997, YFAS has developed independent and complete R&D and manufacturing systems in automotive seating business with a wide range of OEM customer base. Its products cover complete seat, frame, foam, headliner, etc.
“We believe that making YFAS a wholly owned entity of Yanfeng further enhances our capabilities and product offering not only in seating, but as a full-service supplier with through cross-business collaboration,” said Gerald Jia, CEO of Yanfeng. “In the future, the three seating technical centers in Shanghai, Hefei and Chongqing will join Yanfeng’s existing global innovation and engineering network to offer product and innovation synergies including Interiors, Seating, Safety and Cockpit Electronics. At the same time, YFAS’ manufacturing locations in China, along with Yanfeng's existing seat manufacturing bases in Thailand, Serbia and Mexico, will be consolidated to form a complete seat supply capacity and to make it a fully globalized business.”
Additional components of the transaction include equity share and controlling interest changes to other joint ventures held by Yanfeng and Adient in China.However, Yanfeng will continue its current JV relationship (Keiper) with Adient in mechanisms. Keiper is a consolidated entity under Yanfeng, focusing on seat mechanism components.
The transaction is subject to regulatory approval and is expected to be completed in six months. During this period, Yanfeng will maintain close cooperation with Adient to ensure the smooth transition of the business and the continuity of program execution and delivery, and to fully committed to offering a one-stop Smart Cabin solutions to global customers.
