Johnson Controls acquires Varta Automotive Battery - Supply & Demand: Europe - Brief Article

Johnson Controls expects to acquire Varta's Automotive Battery Division, a major European automotive battery manufacturer. Johnson Controls will pay $312.5 million for Varta's automotive battery business. The transaction is targeted to close by the end of the calendar year, and is contingent upon receiving customary regulatory approvals. Johnson Controls said it expects to have annualized battery sales of about $1.8 billion with a market leadership position in Europe as well the as Americas.

COPYRIGHT 2002 Reed Business Information
COPYRIGHT 2002 Gale Group