SAIC JV to acquire Johnson Controls' interiors arm

Interesting global expansion.

"Reuters - Johnson Controls said on Sunday that it has agreed to sell its auto interiors business to a joint venture it is forming with a unit of China's biggest automaker, SAIC Motor Corp.

A Johnson Controls spokesman said the auto parts maker was contributing $3 billion in revenue to the joint venture, giving it a 30 percent stake. The newly formed company will have total of $7.5 billion in revenue, he said.

...The new companywill be headquartered in Shanghai. Additional global engineering, development and customer centers will be located in the United States, Europe, China, Japan and India."

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