Core Viewpoint - The formation of a 50/50 joint venture between NFI Group Inc. and GILLIG LLC to acquire American Seating Inc. aims to enhance the supply chain for the transit industry and ensure operational recovery and long-term stability for American Seating [1][5]. Group 1: Joint Venture Details - The joint venture, named GR Seating, LLC, will take ownership of American Seating's key assets, including equipment, inventory, brand, and intellectual property, while maintaining operations in Grand Rapids, Michigan [2]. - Each partner will have representation on the Board of Directors of the joint venture, which will oversee an independent management team, ensuring neither NFI nor GILLIG will manage day-to-day operations [3]. - The joint venture will collaborate with the previous ownership team to ensure a smooth transition and will focus on increasing throughput and improving delivery timelines [4]. Group 2: Strategic Importance - The acquisition is seen as a commitment by NFI to strengthen the supply chain of the transit industry and provide consistent supply to customers and millions of riders [5]. - GILLIG emphasizes that this partnership prioritizes the health and stability of the transit industry, reinforcing its commitment to customer success [5]. Group 3: Company Backgrounds - NFI Group is a leading global bus manufacturer with a diverse range of propulsion options, including electric models, and supports over 100,000 buses worldwide [6][7]. - GILLIG, a family-owned manufacturer since 1890, focuses on quality and reliability, offering various low and zero-emission propulsion options [8].