Johnson Controls to spin off automotive-interiors business into JV

Johnson Controls (JCI) intends to spin off its automotive-interiors operations into a joint venture with China's Yanfeng Automotive Trim Systems, which will own 70% of the business and the U.S. company the rest.

The JV firm will be the largest company in the world in its field with expected annual revenues of $7.5B and 15% of the market.

The non-cash deal comes as Johnson Controls refocuses on its higher-margin non-auto interests, although the company will keep its auto-seating operations.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs