Johnson Controls Signs Memorandum of Understanding with Ford Motor Company to Acquire the Automotive Component Holdings Plant in Saline, Michigan
PLYMOUTH, Mich., Nov. 15 /PRNewswire/ — Johnson Controls (NYSE: JCI) today announced the company has signed a non-binding memorandum of understanding with Ford Motor Company to acquire the Saline, Michigan Automotive Components Holdings (ACH) plant.
Closure of the transaction is contingent upon the completion of a competitive labor agreement with the unionized employees at the plant as well as resolution of other issues needed to ensure the long term competitiveness of the operation.
The Saline ACH plant manufactures interior components such as door panels, floor consoles, instrument panels, and cockpit systems for a variety of Ford Motor Company vehicles.
“Through this agreement Johnson Controls would be able to provide further support to Ford Motor Company. This acquisition would also complement Johnson Controls’ global growth plans for our interiors business by expanding our global interiors manufacturing capacity,” said Jeff Williams, group vice president and general manager of North America for the Automotive Experience of Johnson Controls. “Our goals are to swiftly bring this operation to profitability, diversify its customer base, achieve synergies from the added volume and increase our share of the interiors market.”
“Automotive Components Holdings is focused on the fundamentals of manufacturing and delivering significant improvements in quality, delivery and cost at its operations,” said Al Ver, CEO and COO of Automotive Components Holdings and Ford Motor Company vice president. “We are pleased to partner with Johnson Controls on a transition for our interiors business that is based on a sustainable business case.”
Johnson Controls (NYSE: JCI) is the global leader that brings ingenuity to the places where people live, work and travel. By integrating technologies, products and services, we create smart environments that redefine the relationships between people and their surroundings. Our team of 140,000 employees creates a more comfortable, safe and sustainable world through our products and services for more than 200 million vehicles, 12 million homes and one million commercial buildings. Our commitment to sustainability drives our environmental stewardship, good corporate citizenship in our workplaces and communities, and the products and services we provide to customers. For additional information, please visit http://www.johnsoncontrols.com/.
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SOURCE: Johnson Controls
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