HUAINAN, China and BURSCHEID, Germany, July 23, 2014 /PRNewswire/ --
- Company further enhances vertical integration in automotive fabrics
Johnson Controls, a global multi-industrial company with established core businesses in the automotive, building, and energy storage industries, today signed an agreement with Shanghai Yanfeng Industry and Commerce Co., Ltd. and Anhui Yansheng Automotive Trim Co., Ltd. to form a new fabrics joint venture in Huainan City, Anhui Province, China.
The new joint venture, named Anhui New Nangang Johnson Controls Automotive Trim Co., Ltd., will provide Chinese automakers with a variety of services from fabric design, engineering and manufacturing to trim products. The joint venture owns the capability of warp knitting and circular knitting, and its product portfolio includes woven fabrics as well as seat trim covers.
Mr. Qian Li, deputy mayor of Huainan City, Mr. Ma Zhengang, general manager, Yanfeng Automotive Trim Systems Co., Ltd., Eric Sorret, group vice president and general manager China, Johnson Controls Automotive Experience, and Mr. Tong Qingxuan, general manager, Anhui Yansheng Automotive Trim Co., Ltd., attended the signing ceremony.
"Through vertical integration in recent years, Johnson Controls has developed world-class capabilities globally in weaving, knitting, fine trimming, lamination, dyeing and fabric tune-up technologies." said Sorret.
"China is a strategic market for Johnson Controls. We are committed to supporting the development of the Chinese market. As the third fabrics facility in China, this new joint venture will leverage Johnson Controls' global capabilities, allowing us to support customers in differentiating their vehicle programs," Sorret added.
"Johnson Controls is one of the first global Fortune 500 companies to invest in Huainan," said Mr. Qian Li, deputy mayor of Huainan City. "We believe the joint venture will provide a great opportunity for the city's industry and human resource development."
The joint venture is expected to start operations in October 2014. Financial terms regarding the transaction were not disclosed.
About Johnson Controls
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 170,000 employees create quality products, services and solutions to optimize the 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. In 2013, Corporate Responsibility Magazine recognized Johnson Controls as the #14 company in its annual "100 Best Corporate Citizens" list. For additional information, please visit http://www.johnsoncontrols.com.
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