NFI Group and GILLIG form 50/50 JV to Acquire the Assets of American Seating, Strengthening North American Seat Supply through Historic Industry Partnership

WINNIPEG, Manitoba, Oct. 22, 2025 (GLOBE NEWSWIRE) -- NFI Group Inc. (TSX:NFI, OTC:NFYEF, TSX:NFI) and GILLIG LLC, today announced that the companies have formed a 50/50 joint venture that acquired the assets of American Seating Inc., a producer of seats for transit, motorcoach, and rail applications. The joint acquisition by the two U.S. heavy-duty transit bus manufacturers secures a critical component of the transit industry's supply chain and positions American Seating for operational performance recovery and long-term stability to the benefit of all customers.The asset acquisition is being completed through a joint venture, entitled GR Seating, LLC (GR Seating), which will assume ownership of American Seating's key assets including its equipment, inventory, brand, and intellectual property. Operations will continue at the existing facilities in Grand Rapids, Michigan, under the American Seating name, and the partnership with The United Automobile, Aerospace and Agricultural Implement Workers of America (UAW), and UAW Local No. 135 will be maintained. The Company will also support buses in the field through its aftermarket business and will maintain customer and supplier relationships.As 50% partners in the joint venture, each manufacturer will have representation on the joint venture's Board of Directors that will provide governance and oversight to an independent third-party management team. Neither NFI nor GILLIG will be involved in day-to-day operations.The joint venture will be working closely with the previous ownership team, including former Chairman, Ed Clark, and former President and CEO, Tom Bush, to ensure a smooth transition while also driving forward a strategy to increase throughput and improve delivery timelines to customers. The joint venture has committed to making dedicated investments in equipment and facilities to enable employees' success and support the management team's recovery plan."Today's acquisition displays NFI's commitment to strengthening the industry's supply chain and delivering for our customers," said Paul Soubry, President and Chief Executive Officer, NFI. "American Seating has ...Full story available on Benzinga.com