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Article: Johnson Controls buys French unit
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- July 26, 2001
- Author:
CopyrightCopyright 2001 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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Johnson Controls buys French unit
Deal opens door to Europe
By TOM CONTENT
of the Journal Sentinel staff
Thursday, July 26, 2001
In a move to set the stage for growth in Europe, Johnson Controls
of Glendale said Wednesday it will pay $435 million to buy the
automotive electronics business of the French firm Sagem SA.
The acquisition fills a key market void for the company, Chairman
James Keyes said on a conference call with analysts Wednesday
afternoon.
"One of the big shortcomings we had in terms of future growth
platforms was electronics in Europe," he said. "We feel that this
fills that bill and continues us on the path that we've had of growth
over the last several years."
The company ...