Johnson Controls, a leading global supplier of automotive interior systems and electronics, announced that it has signed a purchase agreement to acquire KEIPER and the automotive sport and specialty seat business of Recaro.
KEIPER is a leader in recliner system technology and is renowned for its engineering and manufacturing expertise in metal components and mechanisms. The German-based company has a global workforce of about 4,750 employees in seven countries. Excluded from the transaction, however, are KEIPER's operations, business and entity in Brazil.
Beda Bolzenius, Vice President of Johnson Controls and President of Automotive Experience, said that the acquisition "provides leading technologies that we can leverage across our current seat component portfolio, and expand in China and North America."
Johnson Controls expects to strengthen its competitive position in key seating components with expanded opportunities to develop new differentiating products and technologies, which will help accelerate the future growth of its automotive seating business.
Completion of the acquisition, which is subject to the anti-trust approval, is expected during the first half of 2011.
KEIPER is a leader in recliner system technology and is renowned for its engineering and manufacturing expertise in metal components and mechanisms. The German-based company has a global workforce of about 4,750 employees in seven countries. Excluded from the transaction, however, are KEIPER's operations, business and entity in Brazil.
Beda Bolzenius, Vice President of Johnson Controls and President of Automotive Experience, said that the acquisition "provides leading technologies that we can leverage across our current seat component portfolio, and expand in China and North America."
Johnson Controls expects to strengthen its competitive position in key seating components with expanded opportunities to develop new differentiating products and technologies, which will help accelerate the future growth of its automotive seating business.
Completion of the acquisition, which is subject to the anti-trust approval, is expected during the first half of 2011.