Johnson Controls (JCI) announced that its automotive spin-off Adient has filed its initial Form 10 Registration Statement with the U.S. Securities and Exchange Commission (SEC). The two companies say this filing of the Form 10 is a significant milestone in the separation of the automotive seating and interiors businesses from Johnson Controls and the creation of Adient. The separation will create two distinct, publicly traded companies, each of which will be able to focus exclusively on its own businesses and specific needs, enhancing the long-term performance of each company.

“Today’s filing signifies an important step in the spin-off of the Johnson Controls automotive seating and interiors businesses into the new, independent Adient,” said incoming Adient Chairman and CEO R. Bruce McDonald. “Adient will be the world’s largest automotive seating supplier. As an independent public company, we will have the flexibility to invest in our core business and rapidly capitalize on emerging automotive trends. With a strong focus on innovation and operational excellence on a global scale, and driven by a strong management team, we will be positioned to provide unparalleled service to our customers.”

Adient will have more than 230 locations in 33 countries, approximately 75,000 employees and a leading position in China. With $20 billion in consolidated annual revenues, Adient will deliver 25 million seating systems used on more than 360 vehicle nameplates around the globe. Adient is organized under the laws of England and Wales and will have corporate offices in Milwaukee, Wisconsin; Plymouth, Michigan; Burscheid, Germany; and Shanghai.

Completion of the spin-off is subject to a number of conditions, including, among others, the effectiveness of the Form 10 and other customary conditions. The spin-off remains subject to final approval of the Johnson Controls board.