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Joyson and PAG fund KSS to Acquire Air-Bag Marker Takata in Asset Deal
Newly Merged Company Branded Joyson Safety Systems based in Michigan
Auburn Hills, MI USA - April 11 , 2018 _ A consortium led by its parent Ningbo Joyson Electronic Corporation ( "Joyson Electronics") and PAG, an Asia based private equity firm and Future Industry Investment Fund ("SDIC") provided the funding to Key Safety Systems ("KSS") to 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, out of cross-border bankruptcies in the United States and Japan. Takata's liabilities associated with the recall of phase stabilized ammonium nitrate (PSAN) airbag inflators and other liabilities were not acquired by KSS. KSS, headquartered in Michigan, USA, is a global leader in mobility safety.
The combined company will be rebranded Joyson Safety Systems(www.joysonsafety.com) and be headquartered in Auburn Hills, Michigan, USA.(Full Story)