Johnson Controls Acquires Majority Position in Joint Venture TPV Johnson Controls in Slovenia

BURSCHEID, Germany, April 24, 2012 /PRNewswire/ --

Increasing Presence in the Eastern European Growth Market

Johnson Controls, a global leader in automotive interiors and electronics, announced it is acquiring a 24.9 percent share in its Novo Mesto, Slovenia joint venture called TPV Johnson Controls. The acquisition of these additional shares gives Johnson Controls a 74.9 percent ownership stake, making it the majority shareholder in the joint venture.

The joint venture is between Johnson Controls and the TPV Group, and produces complete seating systems for the Renault assembly plant in Novo Mesto. It was established in 1998.

"The Eastern European automotive market is showing dynamic growth, and we see potential in this region," said Roch Thaller, vice president and general manager Renault customer business unit, Johnson Controls Automotive Experience. "We made a strategic decision to acquire the majority position in our joint venture with the TPV Group in order to further consolidate our presence in the Eastern European market."

About Johnson Controls

Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 162,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful.

About Johnson Controls Automotive Experience

Johnson Controls is a global leader in automotive seating, overhead systems, door and instrument panels, and interior electronics. We support all major automakers in the differentiation of their vehicles through our products, technologies and advanced manufacturing capabilities. With 240 locations worldwide, we are where our customers need us to be. Consumers have enjoyed the comfort and style of our products, from single components to complete interiors. With our global capability we supply approximately 50 million cars per year.

For more information, please contact:
Johnson Controls GmbH
Automotive Experience
Industriestraße 20-30
51399 Burscheid
Germany
Oliver Herkert
Tel.: +49-2174-65-4348
Fax: +49-2174-65-3219
E-mail: oliver.herkert@jci.com