Automotive Industry
Industry: Email Alert RSS FeedJohnson Controls to buy 2nd German battery firm.
Automotive News Europe, August, 2002 by Chew, Edmund
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Johnson Controls has agreed to buy the automotive battery business of Varta for 312.5 million.
The deal builds on a technical exchange agreement between Johnson Controls and Varta that was established more than a decade ago. The two companies have a long-standing battery joint venture in South America.
Varta's automotive battery business, headquartered in Hannover, Germany, comprises Varta Automotive and an 80 percent stake of VBAutobatterie. Bosch will continue to hold the remaining 20 percent of Autobatterie.
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The move reflects a convergence between the US and European ...
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