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Johnson Controls Offers $1.25 Billion for Visteon Unit

Friday, 21 May 2010 10:12 AM

Johnson Controls Inc. says it is offering $1.25 billion for Visteon Corp.'s automotive interiors and electronics business, saying the acquisition would expand its presence in China.

Johnson Controls says it sent a letter Thursday to Visteon expressing interest in the acquisition.

Visteon, which is based in Van Buren Township, Mich., is a major parts supplier for Ford Motor Co. and is operating under bankruptcy protection.

Johnson Controls, based in Milwaukee, says the acquisition would be a good fit within its automotive parts business. It would also give it a larger foothold in China, where Visteon is a key player and where Johnson Controls has 23 joint ventures and is looking to expand further.

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Johnson Controls Inc. says it is offering $1.25 billion for Visteon Corp.'s automotive interiors and electronics business, saying the acquisition would expand its presence in China.Johnson Controls says it sent a letter Thursday to Visteon expressing interest in the...
US,Johnson,Controls,Visteon
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2010-12-21
Friday, 21 May 2010 10:12 AM
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