Johnson Controls plans to acquire a business division of Benecke-Kaliko
Prepared for competition thanks to more sustainable technologies
Burscheid, Germany, 19 March 2010 - Johnson Controls, a leading global supplier of automotive interior systems and electronics, today announced plans to acquire Benoac Fertigteile GmbH in Peine, Germany. Benoac Fertigteile GmbH is a joint venture between Johnson Controls, Benecke-Kaliko AG and Inoac Corporation. Johnson Controls who previously had a 4.8% holding intends to acquire the 84.8% owned by Benecke-Kaliko AG, including approximately 60 employees located in Peine.
Benoac Fertigteile GmbH, established in 1986, manufactures surface materials for automotive instrument panels, referred to as slush skins.
Their customers include suppliers to the automotive industry. Benoac has been supplying Johnson Controls with slush skins for automotive interiors since 1990.
Johnson Controls is focused on profitable growth through the vertical integration of slush skins used in the manufacture of instrument panels.
"We are looking forward to the addition of the new team members who will support us to further expand our technological competence and strong market position in this product segment", said Han Hendriks, Vice President Global Product Centers Cockpit Systems for Johnson Controls. Johnson Controls has extensive material know-how, sustainable technologies and a competitive cost structure, and offers the Benoac workforce great development potential and future prospects, particularly with respect to accessing new customers and additional markets. "This acquisition will complement our current interiors product portfolio, and will further secure our long-term competitiveness" said Han Hendriks. As a result, the company will be able to offer slush skin technology to their customers on a global basis in the future.
On completion of the acquisition, Benoac Fertigteile GmbH will operate from its current location under the name Johnson Controls Peine GmbH.
As part of the transaction, Johnson Controls also will take over the existing customers and suppliers of Benoac. The planned acquisition is subject to the approval of the German Federal Cartel Office.
Further information is available from:
Johnson Controls GmbH
Automotive Experience
European Headquarters
Industriestrasse 20-30
51399 Burscheid
Germany
Astrid Schafmeister
Tel.: +49 2174 65-3189
Fax: +49 2174 65-3219
E-mail: astrid.schafmeister@jci.com