Jason Industries to sell its Fiber Solutions unit to Motus Integrated Technologies for $85m.

Milwaukee-based Jason Industries, a globally diversified company, agreed to sell its Fiber Solutions unit to Motus Integrated Technologies, a leading manufacturer of high-performance headliners, for $85m. “The divestiture of Janesville reduces Jason’s automotive market exposure, simplifies our portfolio to the remaining Industrial and Engineered Components businesses, and increases liquidity. Janesville can achieve its true potential under new ownership,” said Brian Kobylinski, chairman and chief executive officer of Jason. “Our employees have done an outstanding job improving operational and commercial performance and we thank them for their hard work and dedication to the business.”