Johnson Controls and Yanfeng form largest global automotive interiors company

Freeman Staff

April 14, 2015

SHANGHAI — Johnson Controls and Yanfeng Automotive Trim Systems Co., Ltd. announced Tuesday that they have joined together to form the world’s largest global automotive interiors company.

Yanfeng Automotive Trim Systems is a wholly owned subsidiary of Huayu Automotive Systems Co., Ltd., the component group of Shanghai Automotive Industry Corporation. The new joint venture will be called Yanfeng Automotive Interiors and have revenues of approximately $8.5 billion with a backlog to reach $10 billion in the next few years, according to the announcement.
 
Yanfeng will be the majority shareholder in the company and hold 70 percent of the joint venture, while Milwaukee-based Johnson Controls will have a 30 percent share. The companies signed a definitive agreement in May 2014 to form this joint venture, which is expected to begin operations in July 2015, subject to receipt of all regulatory approvals.

“Combining our global interiors businesses enhances our ability to serve our automotive customers throughout the world,” said Alex Molinaroli, Johnson Controls chairman and chief executive officer, in a statement. “This will result in an automotive interiors company with unmatched scale, capabilities and reach.”

The new company will be headquartered in Shanghai with more than 90 manufacturing, global engineering, development and customer centers in the United States, Europe, China, Japan and India.
 
www.johnsoncontrols.com