USA: Johnson controls to acquire Gylling Optima

Advanced Battery Technology,  Oct 2000  

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Johnson Controls, Inc. of Milwaukee, Wisconsin, largest auto battery manufacturer in the Americas, has announced that it plans to acquire Gylling Optima Batteries. Gylling Optima, headquartered in Danderyd, Sweden, is a manufacturer of high performance low-acid batteries based on proprietary SpiralCell Technology, marketed worldwide under the Optima brand name. The batteries are manufactured in Aurora, Colorado, and had 1999 sales of US$35 million, two-thirds of which was in the U.S. with the balance in Europe and Asia.

Johnson Controls said that it expects to pay about US$62 million for 100% of the company. Gylling Optima stockholders will receive about $2.14 per share. The offer has been accepted by the Gylling family, which owns 70% of the share capital and 83% of the voting stock. The transaction, subject to normal government approvals and other conditions, should be completed by November 30, 2000.

"Having the world's best-selling spiral-wound battery technology within Johnson Controls will benefit both our aftermarket and original equipment customers," said Keith Wandell, president of JCI's battery business. "With Johnson Controls sales, marketing, and technology resources, together with the available capacity at the Colorado facility, we expect to significantly increase sales of this product in the automotive aftermarket as well as identify 12-volt original equipment applications."

In addition, the company said the Optima technology broadens its battery offerings for the 42-volt automotive electrical systems now under development by many of the world's automakers.

For more information, visit www.johnsoncontrols.com

Copyright Seven Mountains Scientific, Inc. Oct 2000
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