Visteon acquires Johnson Controls automotive interiors businesses

Special to The Freeman

July 7, 2014

GLENDALE – Visteon Corp. has closed on the sale of the automotive electronics business of Glendale-based Johnson Controls, according to a company statement.

The division, which is based in Holland, Mich., sold for $265 million. Johnson Controls provides building management technology and automotive interiors and batteries.

The two companies announced plans for the acquisition on Jan. 13, according to a statement. The acquisition will enhance Visteon’s position in the vehicle cockpit electronics segment by strengthening its global scale, manufacturing and engineering footprint, product portfolio and customer penetration, the statement said.

The transaction involves about 5,000 employees, including approximately 1,000 engineers, electronics specialists and designers in Europe, Asia and North America, according to a statement.

www.visteon.com