Johnson Controls Earnings Increase 11 Percent on Record Third-Quarter Sales
MILWAUKEE — Johnson Controls, Inc. (JCI) reported record sales and earnings for the third quarter of fiscal 2008. Sales for the quarter ended June 30, increased to $9.9 billion, up 11 percent from $8.9 billion for the 2007 third quarter. Segment income was $645 million, a 13 percent increase over $573 million last year, with
Johnson Controls to Acquire Plastech Through Newly Formed Joint Venture
Johnson Controls Inc. (JCI) has formed a joint venture to acquire the interior product assets of Dearborn, Mich.-based Plastech Engineered Products, which filed for bankruptcy in February 2008. Johnson Controls owns 70 percent of the joint venture and will be its largest customer. The joint venture includes 29 plants in North America, which manufacture injection molded components and assemblies such as door panels and floor consoles.
General Motors Recognizes Best Suppliers
JACKSONVILLE , Fla. – General Motors Corp. recently recognized 97 companies with its highly coveted Supplier of the Year Award. There are 57 multiple-year winners among this year’s nominees. “GM is proud to honor our best suppliers with the Supplier of the Year Award, an award that we believe is the most meaningful honor in
Johnson Controls Unveils New Image
Johnson Controls is rolling out a new logo, corporate slogan and advertising campaign designed to more effectively communicate its vision and better align its image and marketing efforts with the company’s current strategic direction.
Collins & Aikman Gets More Time to Sell Off Business, Resolve Liquidation Objections
From Detroit Free Press One of the last major bankruptcy hearings in Collins & Aikman Corp.’s Chapter 11 bankruptcy case has been postponed to give the company more time to sell off parts of its business and settle objections to the firm’s plan to liquidate. A hearing on Collins & Aikman’s confirmation plan that was
Lear Posts Wider Fourth Quarter Loss on Unit Sale
Automobile parts supplier Lear Corp. on Thursday said its fourth-quarter loss widened on hefty charges related to a unit sale, as sales fell 3 percent hurt by production cuts by automakers. The company said it posted a quarterly loss of $645 million, or $8.90 per share, compared with a loss of $602.6 million, or $8.97 per share during the same period in 2005.
W.L. Ross & Co. Buys Two Auto Suppliers for $305 Million
Financier Wilbur Ross this week announced the latest progress in his mission to create a massive automotive supply company with the global footprint to match the automakers. This week, Ross added two automotive suppliers, Mitsuboshi Belting Kaseihin Co., Ltd. (MBK) from Tokyo Stock Exchange listed Mitsuboshi Belting, Ltd. and BST Safety Textiles GmbH (BST), formerly Berger Safety Textiles of Maulburg, Germany, from PPM Capital, the private equity division of Prudential plc, for a total price of $305 million, subject to normal closing adjustments.
Johnson Controls Earnings Up 33 Percent
Johnson Controls Inc., a supplier to the automotive and construction industries, on Thursday said its fiscal third quarter profit rose 33 percent, as strength in its building efficiency business offset sluggish demand in its automotive business. Quarterly earnings rose to a record $338 million, or $1.71 per share, compared to $255 million, or $1.31 per share during the same period last year.
Crypton Care Partners with Casite to Launch Fabric and Leather Cleaners for Vehicles
Crypton Care, a division of Hi-Tex Inc, founders of Crypton Super Fabrics, have announced a new partnership between Crypton Care and The Casite Company. Through the new partnership, the two companies are creating an exclusive line of upholstery care solutions that will be branded Crypton-Powered QuickWorks.
Delphi Introduces New Vehicle Interior Skin Technology
Delphi Corp. has created a new skin for instrument panels, consoles and other vehicle interior surfaces.