As the world's leading supplier of automotive seats, interior systems and electronic products, Johnson Controls (NYSE: JCI) completed the acquisition agreement announced earlier this year, formally acquiring Keiper and Recaro. The European Commission in Brussels, Belgium, approved the acquisition on June 17, 2011.
Zibo is a leading company in the field of recliner system technology and is known for its professional engineering and manufacturing capabilities in metal parts and structural parts and manufactures whole chairs for trucks . Recaro supplies the entire chair to the car manufacturer for the automotive manufacturing and aftermarket. As part of this acquisition, Johnson Controls will also acquire exclusive worldwide use rights for the Recarlo brand in the automotive manufacturing industry. The acquisition will involve approximately 4,750 employees working in seven countries and 13 business organizations.
"The acquisition of Zibo and Recarro enabled Johnson Controls to have a comprehensive product line in the seat components segment," said Beda Bolzenius, vice president of Johnson Controls Group and president of the professional automotive interior business, “This. The acquisition has completed the completion of the acquisition of the C. Rob Hammerstein Group this year and our existing metal parts business."
By integrating Zibo, Recarro, and the C. Rob. Hammerstein Group, Johnson Controls has a complete line of metal parts and structural parts for automakers, covering all vehicle types. This laid the foundation for Johnson Controls’ global leadership in seat parts.
The acquisition does not involve Recarlo Air Seat, Ricardo Child Safety Seat and Recarlo Home Seat. These three businesses are still held by Putsch Holding in Kaiserslautern, Germany. Operation. Zibo's operations, operations and entities in Brazil are also not included in this transaction. The financial terms of the transaction have not been disclosed.
About Johnson Controls:
Johnson Controls serves customers in more than 150 countries and regions and is a global leader in a wide range of technologies and industries. Our 142,000 employees provide quality products, services and solutions to optimize energy and building operational efficiency; provide lead-acid batteries and advanced batteries for hybrid and electric vehicles; and provide automotive interior systems. Our commitment to sustainable development dates back to the first indoor electric thermostat invented in 1885 when the company was founded. With our development strategy and growing market share, we are committed to adding value to our shareholders and helping our customers succeed. In 2011, Johnson Controls ranked first in the “100 Best Corporate Citizens†rankings in the “Corporate Responsibility†magazine. For more information, please visit http://.
About Johnson Controls' professional automotive interior business:
Johnson Controls Professional Automotive Interiors is a global leader in automotive seating, roofing systems, door panels, instrument panels, and automotive interior electronics. Through our products, technologies and advanced manufacturing capabilities, we provide vehicle diversity support for all major automotive manufacturers. We have more than 200 factories around the world, where there are customer needs and where we are. Our products range from individual components to full interiors, offering consumers unlimited comfort and style. With the company's global capabilities, we supply more than 30 million vehicles each year.
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