Johnson Controls Completes Sale of its Engine Electronics Business

MILWAUKEE, March 1 -- Johnson Controls, Inc. today announced it has completed the previously announced sale of its engine electronics business to Valeo.

Valeo, based in Paris, France, paid approximately Euro 330 million for the business, subject to adjustments. The business manufactures engine management systems, engine control units, electric motor drives and engine components, including injectors, ignition and emission control components and sensors. It generated fiscal 2004 revenues of approximately Euro 350 million, excluding intra-company sales.

Johnson Controls is a global market leader in automotive systems and facility management and control. In the automotive market, it is a major supplier of integrated seating and interior systems, and batteries. For non- residential facilities, Johnson Controls provides control systems and services including comfort, energy and security management. Johnson Controls founded in 1885, has headquarters in Milwaukee, Wisconsin.