Motus Integrated Technologies Announces Agreement to Acquire Janesville Fiber Solutions
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.
SOURCE Motus Integrated Technologies
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