Boeing and Adient joint venture, Adient Aerospace will develop, manufacture and sell a portfolio of seating products to airlines and aircraft leasing companies.
The seats will be available for installation on new airplanes and as retrofit configurations for aircraft produced by Boeing and other commercial airplane manufacturers, Boeing said in a statement Tuesday.
Adient Aerospace's operational headquarters, technology center and initial production plant will be located in Kaiserslautern, Germany, near Frankfurt. The joint venture's initial customer service center will be based in Seattle, Washington. Adient Aerospace aftermarket spare parts distribution will be performed exclusively through Aviall, a wholly owned subsidiary of Boeing.
Adient is the majority stakeholder in the new company (50.01 percent share) and expects the joint venture to be included in its consolidated financial statements. Boeing (as 49.99 percent partner) will receive a proportionate share of the earnings and cash flow. Both will have representation on Adient Aerospace's board of directors.