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Joyson Safety Systems Acquire Air-Bag Maker Takata in Asset Deal

Date:2018-04-13 Author:Local Source:Local

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Auburn Hills, MI USA – April 11, 2018 – Joyson successfully complete the acquisition of substantially all of the global assets of Japan-based Takata Corporation (“Takata”), a leading global supplier of vehicle safety systems including seat belts, airbags, steering wheels and child seats as well as other automotive products. Takata’s liabilities associated with the recall of phase-stabilized ammonium nitrate (PSAN) airbag inflators and other liabilities were not acquired by Joyson. 

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To integrate the KSS andTakata, the combined company will be rebranded Joyson Safety Systems (www.joysonsafety.com) and be headquartered in Auburn Hills, Michigan, USA.

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“Joyson Safety Systems integrates the world-class assets and worldwide operations of KSS and Takata under one common organization and one shared mission to provide the best quality safety solutions to our customers,” said Mr. Jeff Wang, Executive Chairman, Joyson Safety Systems. “We are excited about the opportunities created through this combination, and we are committed to providing safety solutions of the highest quality and reliability to drive the next generations of mobility.”

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Joyson Safety Systems is a global leader in mobility safety, generating annual sales of about $7 billion. The company operates in 25 countries with more than 50,000 employees providing life-saving technologies to both automotive and non-automotive markets.