Johnson Controls To Acquire Automotive Battery Business

HANOVER, Germany and MILWAUKEE, Oct. 26 /PRNewswire-FirstCall/ -- Johnson Controls, Inc. (NYSE: JCI), the leading global provider of automotive batteries, today announced it has reached a preliminary understanding concerning the acquisition of Fiamm's automotive battery business. Specific terms of the agreement were not disclosed.

(Logo: http://www.newscom.com/cgi-bin/prnh/20030423/JCILOGO )

Fiamm is a privately held global player in automotive components (starting batteries, acoustic warning devices, horns and antennae) and stationary batteries. Headquartered in Italy, it has annual sales of euro 460 million.

The business to be acquired, which has annual revenues of approximately euro 190 million primarily associated with the automotive aftermarket, would include Fiamm's battery operations in Avezzano and Veronella Italy along with sales and warehouse operations across Eastern and Western Europe. Fiamm's Mlada Boleslav Czech Republic plant is not included in the transaction.

The acquisition enables Johnson Controls to expand its aftermarket presence throughout Europe, including the fast growing Eastern European countries. In addition, Johnson Controls will bring its world class quality and product & process technology to Fiamm customers across Europe.

"We expect that this acquisition will enable us to expand our presence in key European markets and more effectively provide pan-European manufacturing and outstanding services to the aftermarket customer base in Europe," said Walther Wever, vice president and general manager of the power solutions business in Europe and president of VARTA Automotive AG. "This acquisition allows us to add some powerful regional brands, like Fiamm and Akuma, to our portfolio of brands that already includes the market leader in Europe- VARTA."

The transaction is expected to close by the end of the calendar year 2006, subject to negotiation and execution of a definitive acquisition agreement and receipt of European Union antitrust approval.

Johnson Controls is the leading global provider of automotive batteries. The company manufactures and distributes more than 110 million batteries annually, and is the world's largest producer of power-storage devices for passenger vehicles and other applications. Johnson Controls produces and markets many of the world's leading battery brands including Optima(R), VARTA (Europe and Asia), LTH (Mexico) and Heliar (Brazil).

Johnson Controls has made forward-looking statements in this document pertaining to its agreement to acquire Fiamm's automotive battery business that are based on preliminary data and are subject to risks and uncertainties. Forward-looking statements include information concerning possible or assumed future risks and may include words such as "believes," "forecasts," "expects," "outlook" or similar expressions. For those statements, the company cautions that numerous important factors, including the completion of the transaction with Fiamm, as well as those factors discussed in the company's Form 8-K (dated October 6, 2006) could affect the company's actual results and could cause its actual consolidated results to differ materially from those expressed in any forward-looking statement made by, or on behalf of, the company.

Johnson Controls is a global leader in interior experience, building efficiency and power solutions. The company provides innovative automotive interiors that help make driving more comfortable, safe and enjoyable. For buildings, it offers products and services that optimize energy use and improve comfort and security. Johnson Controls also provides batteries for automobiles and hybrid-electric vehicles, along with systems engineering and service expertise. Johnson Controls (NYSE: JCI) has 136,000 employees in more than 1,000 locations serving customers in 125 countries. Founded in 1885, the company is headquartered in Milwaukee, Wisconsin. For additional information, please visit http://www.johnsoncontrols.com .

Web site: http://www.johnsoncontrols.com/


Rating:


Review Article Be the first to review this article
Rand3D

SolidCAM: SolidCAM Dec 2017 Campaign Save 28 percent

Featured Video
Jobs
Sr Mechanical Design Engineer for Medtronic at mounds view, MN
Mechanical Design Engineer 3 for KLA-Tencor at Milpitas, CA
Urban Designer - Urban Design/Planning for SERA Architects, Inc at Portland, OR
Geospatial Systems Administrator for BAE Systems Intelligence & Security at arnold, MO
Geospatial Analyst - Senior for BAE Systems Intelligence & Security at Springfield, VA
Senior Mechanical Engineer for BAE Systems Intelligence & Security at Arlington, VA
Upcoming Events
ESPRIT World 2018 at Indianapolis Marriott Downtown 350 West Maryland Street Indianapolis IN - Jun 11 - 15, 2018
HxGN LIVE 2018 at The Venetian Las Vegas NV - Jun 12 - 15, 2018
IMTS2018 International Manufacturing Tech Show at McCormick Place Chicago IL - Sep 10 - 15, 2018
Kenesto: 30 day trial



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise