Greenville-based Sage Automotive Interiors announced Wednesday that it has acquired Miko S.r.l., an Italian maker of suede-like automotive interior fabrics.
Financial terms of the deal were not disclosed.
Miko, established in 1997 in Gorizia Italy, produces nonwoven fabrics for the furniture industry. Its core business is in the production of Dinamica, an ecological microfiber obtained from recycled plastic.
During the last decade, the company has expanded its product range to respond to the demands of other areas of application, including the automotive sector, which constitutes the main use for Dinamica, Sage officials said.
“The Dinamica brand of suede-like fabrics is a natural expansion of our customer offering,” Dirk Pieper, CEO of Sage, said in a statement. “Dinamica has a strong reputation in the marketplace where a premium or luxurious feel is desired. The sustainable aspects are a natural fit with our record of sustainable products.”
Sage was formed in September 2009 by the former executives of Spartanburg-based Milliken & Co. Pieper and Brian McSharry, and a private investment company. Sage acquired Milliken's auto body cloth division and about 1,000 employees.
The company said the acquisition will not affect its jobs in the U.S.
Sage said it is one of the world's leading providers of automotive bodycloth—seating, door panel surfaces, and headliners—to original equipment manufacturers.
It has global offices and manufacturing locations in the U.S., Japan, China, Brazil, Korea, India, Mexico and Europe.
Sage said its core strengths are in consumer research, sustainability and innovative problem solving for equipment manufacturers. The company said its vision is to be the market leader in design, engineering and technical capability supported by world-class manufacturing.
“We are excited to be part of a big family like Sage,” Lorenzo Terranei, CEO of Miko, said in a statement. “For the future of our Dinamica brand, this is a great opportunity for further growth thanks to Sage's solid global network. It's a leap forward for us that will bring important benefits for our customers.”
Sage is headquartered at the Clemson University International Center for Automotive Research in Greenville. The company has operations at Milliken's former Cotton Blossom plant off Broadcast Drive in Spartanburg.