– Johnson Controls Inc. on Tuesday announced it has entered
into a joint venture with Tokyo-based Hitachi Ltd. and
The agreement states that Johnson Controls will obtain a 60
percent ownership stake in Hitachi Appliances’ global air
conditioning businesses, excluding sales and service
operations in Japan and other assets, according to a
Milwaukee-based Johnson Controls statement.
The companies expect the joint venture to begin operations
in 2014. The partnership will include key products such as
variable refrigerant flow and inverter technologies
supporting both the commercial and residential markets.
"Technology leadership derived from its ongoing investments
in research and development have established Hitachi as a
key contributor to the global HVAC industry," said Alex
Molinaroli, president and chief executive officer of Johnson
Controls. "The addition of these capabilities adds key
technologies to our product portfolio. Combined with our
existing $15 billion building technologies and services
business, this investment positions Johnson Controls as the
world's largest commercial air conditioning provider.”
Hitachi Appliances, a global home appliances and air
conditioning solutions provider, is a wholly-owned
subsidiary of leading global electronics and infrastructure
solutions provider Hitachi Ltd., which supplies high
quality, efficient and reliable air conditioning solutions
across the globe, the statement said.
"Both companies have a long and proud history of innovation
and growth in the industry with similar values and
cultures," said Hiroaki Nakanishi, president of Hitachi Ltd.
"As the worldwide air conditioning business environment
continues to evolve, we believe Johnson Controls and
Hitachi's partnership can supply integrated solutions to
fulfill the needs of customers around the world."