Johnson Control Acquires Latin American Battery Manufacturer

Johnson Controls announced that it is acquiring 100 percent of its automotive battery joint venture business with Grupo IMSA, S.A. de C.V.

The business operates four manufacturing plants and one lead recycling plant in Mexico, as well as one manufacturing plant in Brazil. The plants are major suppliers of automotive batteries to the Mexican and South American aftermarket.

Johnson Controls will pay approximately $525 million, including the assumption of debt, for the remaining 51 percent of the company. The transaction should be complete this fall.

"Grupo IMSA and Johnson Controls have built a good business together, a business that enjoys efficient operations, excellent quality and high customer satisfaction ratings. Today’s announcement provides new opportunities to strengthen our global leadership position and further leverage our capabilities and technologies to improve quality and meet the demands of our customers," said Gregg Sherrill, president of the Johnson Controls battery business.