TOKYO, July 20, 2018-

Asahi Kasei has decided to acquire Sage Automotive Interiors, Inc. (Sage), a US-based manufacturer of automotive interior material, for a cash transaction price of approximately $700 million (¥79.1 billion*). An agreement regarding the acquisition was concluded between Asahi Kasei and Clearlake Sage Holdings, LLC, the 100% owner of Sage.

Under its Cs for Tomorrow 2018 medium-term strategic initiative, Asahi Kasei is focused on expanding automotive-related business as a priority in the Material sector. The company is currently working across the sector to strengthen relationships with vehicle manufacturers and their suppliers while expanding operations globally.

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