Woodbridge will acquire the entire share of the joint venture Woodbridge GSK Polymer Technology Company from the partner Guangzhou Automobile Group Parts Company.
The acquired projects include molded foam production operations in Wuhan (WGSK), Guangzhou (Guangzhou Woodbridge GSK Polymer Technology Co., Ltd.) and Shanghai (Shanghai Woodbridge GSK Auto Parts Co., Ltd.).
The two parties did not disclose the price of the acquisition.
Woodbridge CEO Charles Daly said: "Woodbridge has been a management partner and technology provider for these three bases for 14 years."
Woodbridge will continue to provide GSK with molded polyurethane components to produce seats.
Woodbridge and GSK established a joint venture in 2016. It provides molded polyurethane foam for car seat cushions, headrests and armrests.
Greg Yan, then general manager of Woodbridge China, said: "GACC has many joint ventures with companies such as Fiat, Chrysler, Toyota and Honda. We are very excited about this."