BURSCHEID, Germany and CHARLOTTE, North Carolina, August 1 /PRNewswire/ -- Johnson Controls today announced an agreement to sell its information diagnostics business unit, based in Paris, to SPX Corporation from North Carolina. The business unit develops and manufactures diagnostics and garage equipment products and comprehensive solutions for more efficient and cost effective diagnostics of the vehicle. The transaction is subject to certain regulatory approvals and customary closing conditions.
Johnson Controls information diagnostics unit had 2006 revenues of approximately US$80 million. The business has its headquarters and an R&D center in Pontoise, France and operates plants in La Ferté Bernard, France. Approximately 240 employees are affected by this transaction which is expected to be completed in the third quarter of 2007.
The business was a part of the Sagem automotive electronics business that Johnson Controls acquired in 2001 to expand and strengthen its electronic capabilities for automotive interiors. Pontoise, France, will continue to be the electronics research and development center of Johnson Controls. The areas instrument clusters and electrical energy management/body controls will remain located here.
SPX is headquartered in Charlotte, North Carolina and employs more than 14,000 people worldwide in over 20 countries. Visit http://www.spx.com (NYSE: SPW).
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.
For additional information, please visit http://www.johnsoncontrols.com.
Certain statements in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please refer to our public filings for a discussion of certain important factors that relate to forward-looking statements contained in this press release. The words "believe," "expect," "anticipate," "estimate," "guidance," "target" and similar expressions identify forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.
Further information is available from:
Johnson Controls GmbH
Automotive Experience
Industriestr. 20-30
51399 Burscheid, Germany
Astrid Schafmeister
Tel.: +49-2174-65-3189
Fax: +49-2174-65-3219
E-mail: astrid.schafmeister@jci.com
SPX Corporation
13515 Ballantyne Corporate Place
Charlotte, NC 28277 USA
Jeremy W. Smeltser (Investors)
+1-704-752-4478
E-mail: investor@spx.com
Tina L. Betlejewski (Media)
+1-704-752-4454
E-mail: spx@spx.com
Further information is available from: Johnson Controls GmbH, Automotive Experience, Industriestr. 20-30, 51399 Burscheid, Germany, Astrid Schafmeister, Tel.: +49-2174-65-3189, Fax: +49-2174-65-3219, E-mail: astrid.schafmeister@jci.com; SPX Corporation, 13515 Ballantyne Corporate Place, Charlotte, NC 28277 USA, Jeremy W. Smeltser (Investors), +1-704-752-4478, E-mail: investor@spx.com; Tina L. Betlejewski (Media), +1-704-752-4454, E-mail: spx@spx.com
