Johnson Controls Reduced Code Components Business Acquires Air Distribution Product Provider
According to reports, Johnson Controls recently reached a definitive agreement with the Canada Pension Plan Investment Board to invest US$1.6 billion in the acquisition of Air Distribution Technologies (ADT), which is owned by the latter. In 2012, the Canadian Pension Plan Investment Committee spent US$1.1 billion to acquire ADT from Tomkins. ADT is one of the largest suppliers of air distribution and ventilation products in North America. Its brands include Ruskin, Titus, Hart & Cooley, and Krueger. Johnson Controls said that the acquisition of ADT is expected to be completed by the end of July this year, when ADT's business will be incorporated into the Johnson Controls Building Efficiency Group (BuildingEfficiency). The company's CEO AlexMolinaroli also stated that “this investment will expand Johnson Controls’ market position in the construction industry with more product lines and will supplement our existing heating, ventilation and air conditioning product lines.†At present, Johnson Controls is gradually reducing its reliance on the auto parts industry. In fiscal year 2013 (October 2012 to September 2013), the facility benefit business contributed 34% of sales to the company, and auto parts business. The sales accounted for as high as 51%. In July 2013, Johnson Controls resold its HomeLink automotive electronics business to Jingtai, and in January this year sold the remaining automotive electronics business to Visteon for a price of 265 million US dollars. In addition, the company will also make a poor profit. The automotive interior trim business incorporated into the scope of the sale. It is reported that the annual operating income of Johnson Controls’ automotive interior trim business is approximately US$4.2 billion. The company announced in February that it will sell the roof and sun visor business to Atlas’s subsidiary. The transaction is expected to be completed by the end of this month. In this way, the Johnson Controls interior trim business product family left the door panels, dashboards, and center consoles.
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Johnson Controls Facilities Benefit Group Poster
