PUNE, India, May 28, 2013 /PRNewswire/ --
Tata Johnson Controls Buyout Completed
Johnson Controls, a global leader in automotive seat systems and components, has acquired full (100-percent) ownership of Tata Johnson Controls (TJC). The former 50-percent-50-percent joint venture between Tata Automotive Components (TACO) and Johnson Controls is a leading supplier of automotive seat systems and components in India, serving most major OEMs on the market. The final transfer of the 50 percent share held by TACO has taken place after completion of all formalities. Both parties agreed not to disclose the purchase price.
"India is an emerging market and part of Johnson Controls' global strategy for sustainable growth," said Paul Chawla, president and chief executive officer, Johnson Controls Automotive Experience India, "We are strongly committed to continue to invest in our Indian business. We enjoyed our partnership with Tata AutoComp, and thank them for their support in making TJC a leading seating systems company in India. We are looking forward to building on the successes of the partnership."
Johnson Controls will leverage its automotive seating, electronics and interiors businesses for its India operations.
India plays an important role within the company´s global engineering network and will continue to develop its engineering expertise at the new Technical Center in Pimpri. In addition, Johnson Controls plans to expand its prototype and testing capability for the India region.
Eleven locations across India, including an engineering center in Pune, and approximately 2,100 employees are associated with this transaction. Johnson Controls has operated in India since 1995 and values the expertise and dedication of the TJC employees as a key factor for growth in the country as well as continuity of customer relationships.
About Johnson Controls
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 168,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful.
About Johnson Controls Automotive Experience
Johnson Controls is a global leader in automotive seating, overhead systems, door and instrument panels, and interior electronics. We support all major automakers in the differentiation of their vehicles through our products, technologies and advanced manufacturing capabilities. With 240 locations worldwide, we are where our customers need us to be. Consumers have enjoyed the comfort and style of our products, from single components to complete interiors. With our global capability we supply approximately 50 million cars per year.
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Johnson Controls GmbH
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SOURCE Johnson Controls Automotive Experience