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Fibres/​Yarns/​Fabrics

Asahi Kasei completes acquisition of Sage

The company acquired a leading supplier of specialty designed, technical textiles and microfibre suedes for the automotive industry from Clearlake.

2nd October 2018

Innovation in Textiles
 |  Japan

Transport/​Aerospace, Interiors

Sage provides automotive interior materials, including seating, door panel surfaces, and headliners, to automotive OEMs. Global offices and manufacturing locations include the US, Japan, China, Brazil, Korea, India, Thailand, Mexico, and Europe.

During Clearlake's four-year ownership, Sage executed on an investment strategy focused on transforming the company into a diversified global platform. Organic growth initiatives at Sage focused on expanding the company's product offering and sales reach in Europe and Asia. These were supplemented by successfully executing on several strategic acquisitions, including the acquisitions of Miko and Apollo in Italy, which enabled the company to expand its technical capabilities, product offerings, European manufacturing resources and further penetrated key OEM customers. In addition, the company invested further in its Sage Wuhan joint venture in China to drive more rapid growth in Asia. 

Asahi Kasei announced the decision to acquire Sage on 19 July 2018. With the completion of all requisite procedures, Sage is now a wholly owned consolidated subsidiary of Asahi Kasei. The company will continue to be managed by its current executive team led by CEO Dirk R. Pieper.

The Asahi Kasei Group is a diversified group of companies, with operations in the chemicals and fibres, homes and construction materials, electronics, and health care business sectors. Its fibres operation supplies markets with original technologies and unique fibre materials developed through 90 years of experience in manufacturing of original yarn, spun fibre, and fabric. With more than 30,000 employees around the world, the Asahi Kasei Group serves customers in more than 100 countries.

www.asahi-kasei.co.jp

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