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Article: On the prowl, Johnson Controls may seek audio supplier.(Suppliers)(acquisitions)
- Article from:
- Automotive News
- Article date:
- November 12, 2007
- Author:
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Robert Sherefkin
Johnson Controls Inc. has signaled it's about to go shopping for an automotive electronics supplier, maybe an audio specialist.
The automotive audio market is intensely competitive. But Johnson Controls has a record of successful electronics acquisitions. And a major audio maker - Harman International Industries Inc - is for sale at a reduced price.
Analyst Jonathan Steinmetz of Moran Stanley says in a report that Johnson Controls "has expressed interest to redeploy capital into acquisitions with an emphasis on auto electronics, including potentially audio.'' He did not name possible targets, but industry sources say ...