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Joint venture to create auto interiors company

KDWN

MILWAUKEE (AP) — Wisconsin-based Johnson Controls is teaming up with a Chinese company to create the world’s largest maker of automotive interiors, in a deal announced Sunday.

The joint venture between Johnson Controls and China-based Yanfeng Automotive Trim Systems will be based in Shanghai. The new company will make instrument panels, interior systems, door panels and floor consoles, and is expected to have $7.5 billion in annual sales.

Alex Molinaroli, Johnson Controls’ chairman and CEO, said in Sunday’s statement that the combined company will be well positioned for sustained growth around the world.

“This also aligns with Johnson Controls’ corporate commitment to China, which is increasingly becoming a major center for the global automotive industry,” he said.

Yanfeng, a subsidiary of Huayu Automotive Systems Co., will have a 70 percent stake in the new company. Johnson Controls will have a 30 percent stake. The transaction is subject to limited conditions, and is expected to close in the first half of next year.

Shares of Johnson Controls closed Friday at $44.78. The stock has traded in a 52-week range of $34.40 to $52.50.

Johnson Controls, headquartered in Milwaukee, has 170,000 employees. The company also makes car seats and batteries for hybrid and electric vehicles.

Online:

Johnson Controls: http://www.johnsoncontrols.com

Joint venture to create auto interiors company

KDWN

MILWAUKEE (AP) — Wisconsin-based Johnson Controls is teaming up with a Chinese company to create the world’s largest maker of automotive interiors, in a deal announced Sunday.

The joint venture between Johnson Controls and China-based Yanfeng Automotive Trim Systems will be based in Shanghai. The new company will make instrument panels, interior systems, door panels and floor consoles, and is expected to have $7.5 billion in annual sales.

Alex Molinaroli, Johnson Controls’ chairman and CEO, said in Sunday’s statement that the combined company will be well positioned for sustained growth around the world.

“This also aligns with Johnson Controls’ corporate commitment to China, which is increasingly becoming a major center for the global automotive industry,” he said.

Yanfeng, a subsidiary of Huayu Automotive Systems Co., will have a 70 percent stake in the new company. Johnson Controls will have a 30 percent stake. The transaction is subject to limited conditions, and is expected to close in the first half of next year.

Shares of Johnson Controls closed Friday at $44.78. The stock has traded in a 52-week range of $34.40 to $52.50.

Johnson Controls, headquartered in Milwaukee, has 170,000 employees. The company also makes car seats and batteries for hybrid and electric vehicles.

Online:

Johnson Controls: http://www.johnsoncontrols.com

Joint venture to create auto interiors company

KDWN

MILWAUKEE (AP) — Wisconsin-based Johnson Controls is teaming up with a Chinese company to create the world’s largest maker of automotive interiors, in a deal announced Sunday.

The joint venture between Johnson Controls and China-based Yanfeng Automotive Trim Systems will be based in Shanghai. The new company will make instrument panels, interior systems, door panels and floor consoles, and is expected to have $7.5 billion in annual sales.

Alex Molinaroli, Johnson Controls’ chairman and CEO, said in Sunday’s statement that the combined company will be well positioned for sustained growth around the world.

“This also aligns with Johnson Controls’ corporate commitment to China, which is increasingly becoming a major center for the global automotive industry,” he said.

Yanfeng, a subsidiary of Huayu Automotive Systems Co., will have a 70 percent stake in the new company. Johnson Controls will have a 30 percent stake. The transaction is subject to limited conditions, and is expected to close in the first half of next year.

Shares of Johnson Controls closed Friday at $44.78. The stock has traded in a 52-week range of $34.40 to $52.50.

Johnson Controls, headquartered in Milwaukee, has 170,000 employees. The company also makes car seats and batteries for hybrid and electric vehicles.

Online:

Johnson Controls: http://www.johnsoncontrols.com

Joint venture to create auto interiors company

KDWN

MILWAUKEE (AP) — Wisconsin-based Johnson Controls is teaming up with a Chinese company to create the world’s largest maker of automotive interiors, in a deal announced Sunday.

The joint venture between Johnson Controls and China-based Yanfeng Automotive Trim Systems will be based in Shanghai. The new company will make instrument panels, interior systems, door panels and floor consoles, and is expected to have $7.5 billion in annual sales.

Alex Molinaroli, Johnson Controls’ chairman and CEO, said in Sunday’s statement that the combined company will be well positioned for sustained growth around the world.

“This also aligns with Johnson Controls’ corporate commitment to China, which is increasingly becoming a major center for the global automotive industry,” he said.

Yanfeng, a subsidiary of Huayu Automotive Systems Co., will have a 70 percent stake in the new company. Johnson Controls will have a 30 percent stake. The transaction is subject to limited conditions, and is expected to close in the first half of next year.

Shares of Johnson Controls closed Friday at $44.78. The stock has traded in a 52-week range of $34.40 to $52.50.

Johnson Controls, headquartered in Milwaukee, has 170,000 employees. The company also makes car seats and batteries for hybrid and electric vehicles.

Online:

Johnson Controls: http://www.johnsoncontrols.com

Joint venture to create auto interiors company

KDWN

MILWAUKEE (AP) — Wisconsin-based Johnson Controls is teaming up with a Chinese company to create the world’s largest maker of automotive interiors, in a deal announced Sunday.

The joint venture between Johnson Controls and China-based Yanfeng Automotive Trim Systems will be based in Shanghai. The new company will make instrument panels, interior systems, door panels and floor consoles, and is expected to have $7.5 billion in annual sales.

Alex Molinaroli, Johnson Controls’ chairman and CEO, said in Sunday’s statement that the combined company will be well positioned for sustained growth around the world.

“This also aligns with Johnson Controls’ corporate commitment to China, which is increasingly becoming a major center for the global automotive industry,” he said.

Yanfeng, a subsidiary of Huayu Automotive Systems Co., will have a 70 percent stake in the new company. Johnson Controls will have a 30 percent stake. The transaction is subject to limited conditions, and is expected to close in the first half of next year.

Shares of Johnson Controls closed Friday at $44.78. The stock has traded in a 52-week range of $34.40 to $52.50.

Johnson Controls, headquartered in Milwaukee, has 170,000 employees. The company also makes car seats and batteries for hybrid and electric vehicles.

Online:

Johnson Controls: http://www.johnsoncontrols.com

Joint venture to create auto interiors company

KDWN

MILWAUKEE (AP) — Wisconsin-based Johnson Controls is teaming up with a Chinese company to create the world’s largest maker of automotive interiors, in a deal announced Sunday.

The joint venture between Johnson Controls and China-based Yanfeng Automotive Trim Systems will be based in Shanghai. The new company will make instrument panels, interior systems, door panels and floor consoles, and is expected to have $7.5 billion in annual sales.

Alex Molinaroli, Johnson Controls’ chairman and CEO, said in Sunday’s statement that the combined company will be well positioned for sustained growth around the world.

“This also aligns with Johnson Controls’ corporate commitment to China, which is increasingly becoming a major center for the global automotive industry,” he said.

Yanfeng, a subsidiary of Huayu Automotive Systems Co., will have a 70 percent stake in the new company. Johnson Controls will have a 30 percent stake. The transaction is subject to limited conditions, and is expected to close in the first half of next year.

Shares of Johnson Controls closed Friday at $44.78. The stock has traded in a 52-week range of $34.40 to $52.50.

Johnson Controls, headquartered in Milwaukee, has 170,000 employees. The company also makes car seats and batteries for hybrid and electric vehicles.

Online:

Johnson Controls: http://www.johnsoncontrols.com

Joint venture to create auto interiors company

KDWN

MILWAUKEE (AP) — Wisconsin-based Johnson Controls is teaming up with a Chinese company to create the world’s largest maker of automotive interiors, in a deal announced Sunday.

The joint venture between Johnson Controls and China-based Yanfeng Automotive Trim Systems will be based in Shanghai. The new company will make instrument panels, interior systems, door panels and floor consoles, and is expected to have $7.5 billion in annual sales.

Alex Molinaroli, Johnson Controls’ chairman and CEO, said in Sunday’s statement that the combined company will be well positioned for sustained growth around the world.

“This also aligns with Johnson Controls’ corporate commitment to China, which is increasingly becoming a major center for the global automotive industry,” he said.

Yanfeng, a subsidiary of Huayu Automotive Systems Co., will have a 70 percent stake in the new company. Johnson Controls will have a 30 percent stake. The transaction is subject to limited conditions, and is expected to close in the first half of next year.

Shares of Johnson Controls closed Friday at $44.78. The stock has traded in a 52-week range of $34.40 to $52.50.

Johnson Controls, headquartered in Milwaukee, has 170,000 employees. The company also makes car seats and batteries for hybrid and electric vehicles.

Online:

Johnson Controls: http://www.johnsoncontrols.com

Joint venture to create auto interiors company

KDWN

MILWAUKEE (AP) — Wisconsin-based Johnson Controls is teaming up with a Chinese company to create the world’s largest maker of automotive interiors, in a deal announced Sunday.

The joint venture between Johnson Controls and China-based Yanfeng Automotive Trim Systems will be based in Shanghai. The new company will make instrument panels, interior systems, door panels and floor consoles, and is expected to have $7.5 billion in annual sales.

Alex Molinaroli, Johnson Controls’ chairman and CEO, said in Sunday’s statement that the combined company will be well positioned for sustained growth around the world.

“This also aligns with Johnson Controls’ corporate commitment to China, which is increasingly becoming a major center for the global automotive industry,” he said.

Yanfeng, a subsidiary of Huayu Automotive Systems Co., will have a 70 percent stake in the new company. Johnson Controls will have a 30 percent stake. The transaction is subject to limited conditions, and is expected to close in the first half of next year.

Shares of Johnson Controls closed Friday at $44.78. The stock has traded in a 52-week range of $34.40 to $52.50.

Johnson Controls, headquartered in Milwaukee, has 170,000 employees. The company also makes car seats and batteries for hybrid and electric vehicles.

Online:

Johnson Controls: http://www.johnsoncontrols.com

Joint venture to create auto interiors company

KDWN

MILWAUKEE (AP) — Wisconsin-based Johnson Controls is teaming up with a Chinese company to create the world’s largest maker of automotive interiors, in a deal announced Sunday.

The joint venture between Johnson Controls and China-based Yanfeng Automotive Trim Systems will be based in Shanghai. The new company will make instrument panels, interior systems, door panels and floor consoles, and is expected to have $7.5 billion in annual sales.

Alex Molinaroli, Johnson Controls’ chairman and CEO, said in Sunday’s statement that the combined company will be well positioned for sustained growth around the world.

“This also aligns with Johnson Controls’ corporate commitment to China, which is increasingly becoming a major center for the global automotive industry,” he said.

Yanfeng, a subsidiary of Huayu Automotive Systems Co., will have a 70 percent stake in the new company. Johnson Controls will have a 30 percent stake. The transaction is subject to limited conditions, and is expected to close in the first half of next year.

Shares of Johnson Controls closed Friday at $44.78. The stock has traded in a 52-week range of $34.40 to $52.50.

Johnson Controls, headquartered in Milwaukee, has 170,000 employees. The company also makes car seats and batteries for hybrid and electric vehicles.

Online:

Johnson Controls: http://www.johnsoncontrols.com

Joint venture to create auto interiors company

KDWN

MILWAUKEE (AP) — Wisconsin-based Johnson Controls is teaming up with a Chinese company to create the world’s largest maker of automotive interiors, in a deal announced Sunday.

The joint venture between Johnson Controls and China-based Yanfeng Automotive Trim Systems will be based in Shanghai. The new company will make instrument panels, interior systems, door panels and floor consoles, and is expected to have $7.5 billion in annual sales.

Alex Molinaroli, Johnson Controls’ chairman and CEO, said in Sunday’s statement that the combined company will be well positioned for sustained growth around the world.

“This also aligns with Johnson Controls’ corporate commitment to China, which is increasingly becoming a major center for the global automotive industry,” he said.

Yanfeng, a subsidiary of Huayu Automotive Systems Co., will have a 70 percent stake in the new company. Johnson Controls will have a 30 percent stake. The transaction is subject to limited conditions, and is expected to close in the first half of next year.

Shares of Johnson Controls closed Friday at $44.78. The stock has traded in a 52-week range of $34.40 to $52.50.

Johnson Controls, headquartered in Milwaukee, has 170,000 employees. The company also makes car seats and batteries for hybrid and electric vehicles.

Online:

Johnson Controls: http://www.johnsoncontrols.com

Joint venture to create auto interiors company

KDWN

MILWAUKEE (AP) — Wisconsin-based Johnson Controls is teaming up with a Chinese company to create the world’s largest maker of automotive interiors, in a deal announced Sunday.

The joint venture between Johnson Controls and China-based Yanfeng Automotive Trim Systems will be based in Shanghai. The new company will make instrument panels, interior systems, door panels and floor consoles, and is expected to have $7.5 billion in annual sales.

Alex Molinaroli, Johnson Controls’ chairman and CEO, said in Sunday’s statement that the combined company will be well positioned for sustained growth around the world.

“This also aligns with Johnson Controls’ corporate commitment to China, which is increasingly becoming a major center for the global automotive industry,” he said.

Yanfeng, a subsidiary of Huayu Automotive Systems Co., will have a 70 percent stake in the new company. Johnson Controls will have a 30 percent stake. The transaction is subject to limited conditions, and is expected to close in the first half of next year.

Shares of Johnson Controls closed Friday at $44.78. The stock has traded in a 52-week range of $34.40 to $52.50.

Johnson Controls, headquartered in Milwaukee, has 170,000 employees. The company also makes car seats and batteries for hybrid and electric vehicles.

Online:

Johnson Controls: http://www.johnsoncontrols.com

Joint venture to create auto interiors company

KDWN

MILWAUKEE (AP) — Wisconsin-based Johnson Controls is teaming up with a Chinese company to create the world’s largest maker of automotive interiors, in a deal announced Sunday.

The joint venture between Johnson Controls and China-based Yanfeng Automotive Trim Systems will be based in Shanghai. The new company will make instrument panels, interior systems, door panels and floor consoles, and is expected to have $7.5 billion in annual sales.

Alex Molinaroli, Johnson Controls’ chairman and CEO, said in Sunday’s statement that the combined company will be well positioned for sustained growth around the world.

“This also aligns with Johnson Controls’ corporate commitment to China, which is increasingly becoming a major center for the global automotive industry,” he said.

Yanfeng, a subsidiary of Huayu Automotive Systems Co., will have a 70 percent stake in the new company. Johnson Controls will have a 30 percent stake. The transaction is subject to limited conditions, and is expected to close in the first half of next year.

Shares of Johnson Controls closed Friday at $44.78. The stock has traded in a 52-week range of $34.40 to $52.50.

Johnson Controls, headquartered in Milwaukee, has 170,000 employees. The company also makes car seats and batteries for hybrid and electric vehicles.

Online:

Johnson Controls: http://www.johnsoncontrols.com

Joint venture to create auto interiors company

KDWN

MILWAUKEE (AP) — Wisconsin-based Johnson Controls says it has signed an agreement to create the world’s largest automotive interiors company with China-based Yanfeng Automotive Trim Systems.

Johnson Controls said in a statement Sunday that the joint venture is expected to have $7.5 billion in annual sales and make instrument panels, interior systems, door panels and floor consoles. The new company will have its headquarters in Shanghai.

Yanfeng is a subsidiary of Huayu Automotive Systems Co., and will have a 70 percent stake in the new company. Johnson Controls will have a 30 percent stake.

Johnson Controls Chairman and CEO Alex Molinaroli says the deal aligns with the company’s commitment to China and its growing efforts in the global automotive industry.

Johnson Controls is headquartered in Milwaukee. It has 170,000 employees.