Johnson Controls completes acquisition of Borg Instruments

Automotive Industries, August, 2003

Johnson Controls has completed its acquisition of Borg Instruments AG. Borg Johnson Controls said it paid cash of approximately 117.5 million [pounds sterling] and expects the transaction to be accretive to Johnson Controls earnings in fiscal 2004. It is using short-term borrowings to finance the acquisition.

Johnson Controls said that Borg Instruments will strengthen its interiors electronics capabilities as well as its technological presence in Europe. Johnson Controls also anticipates transferring the Borg technology to the North American and other markets.