Related to this story
Topics Mergers & Acquisitions, Automotive
Companies & Associations Johnson Controls Inc.
GLENDALE, WIS. — Johnson Controls Inc. is considering selling its automotive electronics business, although the auto supplier denied reports that it is seeking the potential sale of its entire auto interior business group.
The company also said in a March 6 press release that it has "no current intention" to sell the interiors group.
Reuters published a story online earlier in the day that JCI, based in Glendale, had retained advisers from investment bank JPMorgan Chase to seek buyers for the interiors group, which is based in Plymouth, Mich.
JCI said it is in the preliminary stages of considering a sale of its electronics group and that no other details were available.
The company's interiors business does not include its seating group. JCI created a separate unit for interiors last year and named Bill Jackson president of its electronics, interiors, operations and interiors division.
The auto electronics business includes the company's HomeLink system-integrating garage door openers, alarm systems and other home controls into a vehicle control, as well as in-car electronics and safety systems.