MILWAUKEE Johnson Controls issued a statement yesterday denying rumors that it is looking to sell its automotive interiors business.
"Contrary to a wire service story released earlier today, Johnson Controls has not retained JPMorgan to sell its automotive interiors business segment and said it has no current intention to divest this segment," the company stated in a press release.
Johnson Controls says it had retained JPMorgan to explore the potential divestiture of its automotive electronics business segment, and the company is in the preliminary stages of this process.