Johnson Controls to acquire KEIPER and the automotive seat business of RECARO
Johnson Controls Automotive Experience enhances metal components business
Burscheid, Germany - December 30, 2010. Johnson Controls, a leading global supplier of automotive interior systems and electronics, announced today that it has signed a purchase agreement to acquire KEIPER and the automotive sport and specialty seat business of RECARO. KEIPER is a leader in recliner system technology and is renowned for its engineering and manufacturing expertise in metal components and mechanisms. KEIPER's headquarters and engineering center are located in Kaiserslautern, Germany. The acquisition will include approximately 4,750 employees globally in seven countries. Excluded from the transaction are Keiper's operations, business and entity in Brazil.
"This acquisition further strengthens our metal components and mechanisms business through the addition of the KEIPER and RECARO brands which are synonymous with quality, technical expertise and innovation," said Beda Bolzenius, Vice President, Johnson Controls and President, Automotive Experience. "It provides leading technologies that we can leverage across our current seat component portfolio, and expand in China and North America."
KEIPER's expertise includes the complete engineering process and technologies used to produce metal seat components, structures and mechanisms. The product range encompasses mechanisms which adjust the seat's length and height, recliners that adjust the backrest position of vehicle seats, and rear seat latches.
This acquisition also includes the RECARO automotive sport and specialty seat portfolio. Automakers are sourcing complete seating systems as well as single metals and mechanism components of auto seats for the realization of platform strategies. With the acquisition of KEIPER and the automotive seating division of RECARO, Johnson Controls will become an important player in these key components with expanded opportunities to develop differentiating new products and technologies. Johnson Controls said that it believes that increasing vertical integration and enhancing its seating components technologies is a key to the future growth of its auto seating business.
KEIPER will be integrated into the Johnson Controls metal and mechanisms product business unit, which is part of the seating components product group within the Automotive Experience business. The RECARO seating products will become part of a new product business unit within the seating components product group. Both will be led by Johannes Roters, Group Vice President and General Manager, Seating Components.
Martin Putsch, owner and CEO of the Keiper RECARO Group explained: "We are pleased that our team will become be part of such a successful organization. Being part of Johnson Controls will provide a unique opportunity for our company to best meet the future challenges of our industry, such as fast-growing globalization and platform standardization."
Completion of the acquisition, which is subject to the anti-trust approval, is expected during the first half of calendar year 2011. Financial details regarding the transaction were not disclosed.
Further information is available from:
Johnson Controls GmbH
51399 Burscheid, Germany
Tel.: +49 2174 65-3189
Cell Phone: +49 162 1085444
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 more than 200 plants 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 more than 30 million cars per year.