Johnson Controls assumes complete Ownership of the Former Tata Johnson Controls (TJC) Joint Venture in India
PUNE, India--May 28, 2013:
Tata Johnson Controls Buyout Completed
Johnson Controls , a global leader in automotive seat systems and components , has acquired full (100-percent) ownership of Tata Johnson Controls (TJC). The former 50-percent-50-percent joint venture between Tata Automotive Components (TACO) and Johnson Controls is a leading supplier of automotive seat systems and components in India , serving most major OEMs on the market. The final transfer of the 50 percent share held by TACO has taken place after completion of all formalities. Both parties agreed not to disclose the purchase price.
"India is an emerging market and part of Johnson Controls' global strategy for sustainable growth," said Paul Chawla, president and chief executive officer, Johnson Controls Automotive Experience India, "We are strongly committed to continue to invest in our Indian business. We enjoyed our partnership with Tata AutoComp, and thank them for their support in making TJC a leading seating systems company in India. We are looking forward to building on the successes of the partnership."
Johnson Controls will leverage its automotive seating, electronics and interiors businesses for its India operations.
India plays an important role within the company´s global engineering network and will continue to develop its engineering expertise at the new Technical Center in Pimpri. In addition, Johnson Controls plans to expand its prototype and testing capability for the India region.
Eleven locations across India, including an engineering center in Pune, and approximately 2,100 employees are associated with this transaction. Johnson Controls has operated in India since 1995 and values the expertise and dedication of the TJC employees as a key factor for growth in the country as well as continuity of customer relationships.