HOLLAND, Mich., Aug. 12, 2019 /PRNewswire/ -- Motus
Integrated Technologies ("Motus"), a Tier 1 and Tier 2
supplier of automotive interior products to the world's automakers,
today announced it has signed a definitive agreement to acquire
Janesville Fiber Solutions ("Janesville"), a division of
Jason Industries, Inc. ("Jason") (NASDAQ: JASN). Motus
is expected to close the transaction late in the third quarter.
Janesville is a pioneer in the production of high-performance
engineered acoustical and thermal fiber solutions for a variety of
automotive applications. Janesville's more than 1,000
associates operate from locations in Michigan, Mississippi, Missouri, North
Carolina and Mexico.
"With this acquisition, Motus' portfolio of innovative interior
offerings and advanced manufacturing facilities continues to expand
and benefit our customers around the world," said Shannon White, President and Chief Executive
Officer of Motus. "Both Motus and Janesville are recognized
industry leaders in compression forming. Janesville's
expertise in materials, strong customer relationships and
complementary footprint will enable us to offer our customers more
innovative, lightweight product solutions that meet increasing
demands for interior quality and design innovation," he added.
Motus is a leading provider of headliners, automotive interior
door and console armrests to the world's leading Original Equipment
Manufacturers ("OEMs") and Tier 1's. It holds a
leading market position in this sector and has one of the
industry's broadest and most technologically advanced product
portfolios. Motus operates a global manufacturing platform
with more than 2,000 associates operating from its five current
facilities. In addition, the company recently announced the
construction of a new $15 million
plant in Gadsden, Alabama, which
is expected to begin operations in mid-2020.
Motus plans to work closely with Janesville and Jason to
seamlessly transition the business. Upon closing, leaders and
key members of the Janesville organization will join the Motus
Leadership Team, ensuring reliability and consistency during the
transition process.
"Motus is a good, strategic home for Janesville and its
employees," said Brian Kobylinski,
Chairman and Chief Executive Officer of Jason. "We are
confident that Motus will elevate the business and create more
value for our customers through high-performance product
offerings."
About Motus Integrated Technologies
Motus Integrated
Technologies is a privately held Tier 1 and Tier 2 supplier of
automotive interior products to the world's automakers. The
company's more than 2,000 associates produce high-performance
headliners, interior door and console armrests, and instrument
panel trim components for the global automotive market from
state-of-the-art manufacturing facilities located in North America and Europe. For more information, visit
www.motusintegrated.com.
About Janesville Fiber Solutions
Janesville Fiber
Solutions is one of the world's largest producers of acoustical and
thermal fiber insulation for a variety of automotive applications.
Founded in 1874, the company is based in Southfield, Michigan with Manufacturing plants
and satellite offices in Michigan,
Mississippi, Missouri, North
Carolina and Mexico.
About Jason Industries, Inc.
Jason Industries, Inc. is
the parent company to a global family of manufacturing leaders
within the finishing components, seating and acoustic markets,
including Osborne (Richmond, Ind.
And Germany), Metalex
(Libertyville, Ill.), Milsco
(Milwaukee, Wis.) and Janesville
Fiber Solutions (Southfield,
Mich.). Headquartered in Milwaukee, Wis., Jason employs more than 4,200
people in 14 countries.
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SOURCE Motus Integrated Technologies
