PIE-TICKER
Johnson Controls to buy Delphi's battery unit
US automotive supplier Johnson Controls (JCL, www.johnsoncontrols. com), has signed a non-binding letter of intent to acquire the batteries unit of troubled rival Delphi Corporation (www.delphi.com), Troy, Michigan / USA, for USD 212.5m. The deal will not include Delphi's two remaining US sites. However, it is understood to include a long-term contract to supply Delphi's parent company, General Motors, with OEM batteries. JCL said it expects to finalise the transaction by summer of this year.
30.03.2005 Plasteurope.com [11387]
Published on 30.03.2005