Johnson Controls Automotive Experience Signs Share Purchase Agreement to Acquire Michel ThierryBy Johnson Controls Automotive Experience, PRNE
Tuesday, October 12, 2010
Enhancement of Johnson Controls' Product and Service Portfolio
BURSCHEID, Germany, October 13, 2010 - Johnson Controls, a global leader in automotive seating systems, interior
components and electronics, signed a share purchase agreement for the
acquisition of Michel Thierry, a highly respected supplier of fabrics and
lamination to the automotive industry, with strong R&D and manufacturing
capabilities in Europe - primarily in France, Spain and the Czech Republic -
and operations worldwide. Michel Thierry's headquarters and main facility are
based in Laroque d'Olmes, France.
"The combination of Johnson Controls Automotive Experience and Michel
Thierry is a perfect fit. I am convinced that together we create a unique
value proposition for our customers and differentiation in the industry,"
said Dr. Beda Bolzenius, vice president Johnson Controls and president
Automotive Experience, on signing the share purchase agreement in Paris.
Johnson Controls further said that the strategic acquisition of the
renowned French automotive supplier will position the company as one of the
global leaders in textiles and in integrated trim, thus creating
opportunities for future business growth. According to the company, Johnson
Controls' expertise in cut and sew and Michel Thierry's expertise in fabrics
meet customers' increasing demand for integrated services - from fabrics to
complete seats - on a global scale. The company also anticipates enhanced
innovation opportunities and the potential for further quality optimization
by covering the entire process chain with early customer involvement.
Finally, the acquisition puts the company in a position to make better use of
growth potential in Chinese and North American markets.
Frédéric Chaussat, CEO of Michel Thierry said: "This operation marks a
very significant step in Michel Thierry's history. With the support of its
current shareholders, HTP, a privately-held Dutch investment company, and the
French automotive fund FMEA, Michel Thierry has continued to strengthen its
leading market position in a difficult industry context and will be
well-armed to grow further. Johnson Controls Automotive Experience's strong
background opens up unique opportunities to capitalize on our innovation, our
manufacturing capabilities and our global reach, to conquer new markets
within a well-managed, financially stable and respected global company with a
foresighted attitude. We will benefit from this step by becoming part of a
strong network of expertise with considerable potential for future growth
within the automotive industry."
Michel Thierry's product line includes automotive textiles for seating
and for interiors and leather production for seating and interiors.
Capabilities include design, development, production, weaving, knitting,
lamination, embossing, screen printing, welding and laser punching. 1,700
employees are associated with the business.
Completion of the acquisition, which is subject to customary regulatory
approvals, is expected by the end of November 2010.
Johnson Controls is a global diversified technology and industrial leader
serving customers in over 150 countries. Our 130,000 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.
Johnson Controls Automotive Experience 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 more than 200 plants 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, in over 200 million vehicles.
Further information is available from: Johnson Controls GmbH Automotive Experience Industriestrasse 20-30 51399 Burscheid Germany Ulrich Andree Tel: +49(0)2174-65-4343 Fax: +49(0)2174-65-3219 E-mail: firstname.lastname@example.org
Further information is available from: Johnson Controls GmbH, Automotive Experience, Industriestrasse 20-30, 51399 Burscheid, Germany; Ulrich Andree, Tel: +49(0)2174-65-4343, Fax: +49(0)2174-65-3219, E-mail: ulrich.andree at jci.com
Tags: Burscheid, Germany, Johnson Controls Automotive Experience, October 13