JCI forming JV with China's Yanfeng Automotive Trim

By Don Loepp
Editor

Published: May 18, 2014 11:21 am ET
Updated: May 19, 2014 3:35 pm ET

Image By: Johnson Controls Inc. JCI Chairman and CEO Alex Molinaroli signs a definitive agreement to form a global automotive interiors joint venture with Yanfeng Automotive Trim Systems Co. Ltd.

Related to this story

Topics Automotive, Mergers & Acquisitions, Injection Molding, Joint Venture
Companies & Associations Johnson Controls Inc.

Johnson Controls Inc. and SAIC’s Yanfeng Automotive Trim Systems Co. Ltd. are forming a global joint venture that will be the world’s largest supplier of automotive interiors.

Glendale, Wis.-based JCI and Yanfeng, a subsidiary of Huayu Automotive Systems Co. Ltd. (HASCO), announced the deal on May 18. HASCO is part of Shanghai Automotive Industry Corp.

The non-cash transaction will create a company with sales of approximately $7.5 billion. Yanfeng will own 70 percent of the joint venture.

“Joining our two interiors businesses is a natural extension of our already very successful existing partnership with Yanfeng in automotive seating, which has flourished over the past 15 years. It creates a strong combined company with a market leading position and a foundation for sustained global growth,” said Alex Molinaroli, JCI’s chairman and CEO, in a news release.

“This also aligns with Johnson Controls’ corporate commitment to China, which is increasingly becoming a major center for the global automotive industry,” Molinaroli said.

The JV will be based in Shanghai with engineering, development and customer centers in the United States, Europe, China, Japan and India. Its product portfolio includes instrument panels and cockpit systems, door panels and floor consoles.

The deal is scheduled to close in the first half of 2015.

The deal comes just a few months after Yanfeng took full ownership of interiors operations in North America and China it previously operated in a joint venture with Visteon Corp.


Comments

JCI forming JV with China's Yanfeng Automotive Trim

By Don Loepp
Editor

Published: May 18, 2014 11:21 am ET
Updated: May 19, 2014 3:35 pm ET

Post Your Comments


Back to story


More stories

Image

RJG buys UK training group G&A

September 30, 2014 11:10 am ET

G&A Moulding Technology Ltd., a United Kingdom-based training and consultancy group, has been bought by RJG Inc., the U.S.-based training business.    More

Image

Ohio molder Denbro Plastics moves to new location

September 29, 2014 6:17 pm ET

Logo products injection molder Denbro Plastics Co. has moved to another plant within Toledo, Ohio, to streamline production and improve efficiency.    More

Image

Japan's parts makers face challenges as carmakers expand supply base

September 29, 2014 11:01 am ET

For all their size and success, Japanese auto suppliers that rocketed to global dominance on the coattails of their No. 1 customer, Toyota Motor Corp....    More

Image

Clariant extends reach into Asia with acquisition

September 29, 2014 9:54 am ET

Clariant International Ltd. is buying VitaPac (HK) Industrial Ltd., a Hong Kong-based company which produces desiccant packets for the healthcare...    More

Image

Nypro Healthcare continues to grow following Jabil acquisition

September 26, 2014 1:59 pm ET

Nypro Healthcare's newest medical device manufacturing facility offers 200,000 square feet of carefully configured Class 8 clean room molding and asse...    More

Market Reports

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events