JohnsonControls, a global multi-industrial company with established core businesses inthe automotive, building, and energy storage industries, today signed anagreement with Shanghai Yanfeng Industry and Commerce Co., Ltd. and AnhuiYansheng Automotive Trim Co., Ltd. to form a new fabrics joint venture inHuainan City, Anhui Province, China.
The new jointventure, 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 thecapability of warp knitting and circular knitting, and its product portfolioincludes woven fabrics as well as seat trim covers.
Mr. Qian Li,deputy mayor of Huainan City, Mr. Ma Zhengang, general manager, YanfengAutomotive Trim Systems Co., Ltd., Eric Sorret, group vice president andgeneral manager China, Johnson Controls Automotive Experience, and Mr. TongQingxuan, general manager, Anhui Yansheng Automotive Trim Co., Ltd., attendedthe signing ceremony.
“Throughvertical integration in recent years, Johnson Controls has developedworld-class capabilities globally in weaving, knitting, fine trimming,lamination, dyeing and fabric tune-up technologies.” said Sorret.
“China isa strategic market for Johnson Controls. We are committed to supporting thedevelopment of the Chinese market. As the third fabrics facility in China, thisnew joint venture will leverage Johnson Controls’ global capabilities, allowingus to support customers in differentiating their vehicle programs,” Sorretadded.
“JohnsonControls is one of the first global Fortune 500 companies to invest inHuainan,” said Mr. Qian Li, deputy mayor of Huainan City. “We believethe joint venture will provide a great opportunity for the city’s industry andhuman resource development.”
The jointventure is expected to start operations in October 2014. Financial termsregarding the transaction were not disclosed.
JohnsonControls is a global diversified technology and industrial leader servingcustomers in more than 150 countries. Our 170,000 employees create qualityproducts, services and solutions to optimize the energy and operationalefficiencies of buildings; lead-acid automotive batteries and advancedbatteries for hybrid and electric vehicles; and interior systems forautomobiles. Our commitment to sustainability dates back to our roots in 1885,with the invention of the first electric room thermostat. Through our growthstrategies and by increasing market share we are committed to delivering valueto shareholders and making our customers successful. In 2013, CorporateResponsibility Magazine recognized Johnson Controls as the #14 company in itsannual “100 Best Corporate Citizens” list. For additionalinformation, please visit http://www.johnsoncontrols.com.
About JohnsonControls Automotive Experience
JohnsonControls is a global leader in automotive seating, overhead systems, door andinstrument panels, and interior electronics. We support all major automakers inthe differentiation of their vehicles through our products, technologies andadvanced manufacturing capabilities. With 240 locations worldwide, we are whereour customers need us to be. Consumers have enjoyed the comfort and style ofour products, from single components to complete interiors. With our globalcapability we supply approximately 50 million cars per year.