TS Tech Americas and ML Industries, Inc. sign Joint Venture Agreement

What began as an ordinary automotive interior customer/supplier relationship between TS Tech (Japanese Publicly Traded Corporation) some 10 years ago has now developed and evolved into an extraordinary partnership. On Tuesday, September 7, President and CEO, Mickey Dunn, has confirmed that TS Tech Americas and ML Industries, Inc., (MLI) have finalized a Joint Venture, TSML Innovations, LLC, to produce automotive interiors. Corporate Offices will be located in Hidalgo, Texas, with manufacturing operations performed in north central Mexico.

According to Dunn, negotiations with TS Tech Americas, Inc. began early this year and finalized in mid-August. “This is probably the pinnacle accomplishment of my professional career – aligning MLI with one of, if not the, most significant interior companies in the world. We have done business together since 2011, and, I have to say, TS Tech has been an amazing customer with which to work. There is so much trust and respect between the two companies. This is a relationship that is extremely unique and very successful.” Dunn went on to say, “There is no greater compliment in business than for a 10- year-old customer to invite you into a partnership. The JV makes all the sense in the world. I am very excited about doing everything we can possibly do to make TSML Innovations a complete success.”

“This will be a fun venture, and, I really look forward to working with World Class people such as the leaders of TS Tech Americas, as we build a World Class operation together”, said MLI COO, Teresa Dunn. COO Dunn went on to say, “During the past 10 years we have worked very closely together, and, we have an incredible performance track record. This speaks highly of the trust and respect that both companies have for each other.”

TS Tech Americas, Inc. Executive Vice President Scott Hepner added, “The Joint Venture we have formed with our long-time, trusted supply partner, MLI, is very exciting in so many ways. It starts with this being our first Joint Venture in North America. Beyond that, the immediate capability gained by TS Tech partnering with a company such as MLI is truly the most exciting element of this venture. The people of MLI, from their top-level leadership team to their high skilled production associates, make this partnership quite special.” Hepner will serve as President of TSML Innovations.

According to CEO Dunn, there will be no changes to the current MLI structure and organization. The Company will be a completely separate entity. Dunn said that his plans for MLI do not change; he will continue to expand and optimize MLI in its various business segments.

ML Industries, Inc. is a 31-year-old company with over 5,000 employees worldwide. MLI is a key manufacturer of several automotive component segments including interiors (seat covers), safety (airbags), and other. Approximately 471 million vehicles worldwide are equipped with at least one MLI-manufactured product. MLI’s Corporate Headquarters are located in Fredericksburg, Texas, with production facilities located in north central Mexico.