Johnson Controls and Pricol establish joint venture for Indian automotive market
Pune, India (March 27, 2012) – Johnson Controls, a global leader in automotive seating, overhead systems, door and instrument panels, and interior electronics, has formed a joint venture with Pricol Limited, a leading supplier of automotive instrument clusters in India.
The 50/50 joint venture will be called Johnson Controls Pricol Private Limited. Pricol’s instrument cluster manufacturing plant in Pune will become the joint venture’s primary location. Products developed and manufactured will include instrument clusters, displays and body electronics for both automakers and motorcycle manufacturers that operate businesses in India. The joint venture will leverage Johnson Controls’ industry-leading Human Machine Interaction design and implementation expertise as well as product capabilities.
“This new partnership combines the expertise and capabilities of Johnson Controls and Pricol to create a unique value proposition for our customers and differentiation in the industry,” said Jeff DeBest, group vice president and general manager, electronics for Johnson Controls Automotive Experience.
With Pricol’s cost-effective innovation capabilities and strong customer relationships in the local market, Johnson Controls will realize growth potential in India. It also will serve global customers cost effectively.
“Johnson Controls brings their world-class product development capabilities, global purchasing relationships and access to global customer relationships to this joint venture, which will help Pricol to strengthen our leading market position in India,” said Vijay Mohan, chairman, Pricol.
“Pricol’s existing instrument cluster offerings and customer base for motorcycle makers will allow us to enter a new market segment,” added DeBest. This new joint venture also will become Johnson Controls’ global center of expertise for this product.
About Johnson Controls:
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 162,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful. In 2011, Corporate Responsibility Magazine recognized Johnson Controls as the #1 company in its annual “100 Best Corporate Citizens” list. For additional information, please visit http://www.johnsoncontrols.com.
About Johnson Controls Automotive Experience:
Johnson Controls is a global leader in automotive seating, overhead systems, door and instrument panels, and interior electronics. We support all major automakers in the differentiation of their vehicles through our products, technologies and advanced manufacturing capabilities. With 240 locations worldwide, we are where our customers need us to be. Consumers have enjoyed the comfort and style of our products, from single components to complete interiors. With our global capability we supply approximately 50 million cars per year.
Pricol, which started its operations 35 years ago, is a well-known name in the Indian automotive component sector. Over the last 25 years, Pricol has been a leading supplier of automotive instrument clusters for two wheelers, cars, trucks and tractors in India. The company supports automakers and after-market customers across Europe, America, Middle East and Australasia and supplies instruments and other products including sensors, oil pumps, chain tensioners, fleet management solution products.
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