Johnson Controls forms a new fabrics joint venture in Huainan, China
Source:transportweekly 2014-7-28 11:34:00
Johnson Controls, a global multi-industrial company with established core businesses in the automotive, building, and energy storage industries, today signed an agreement with Shanghai Yanfeng Industry and Commerce Co., Ltd. and Anhui Yansheng Automotive Trim Co., Ltd. to form a new fabrics joint venture in Huainan City, Anhui Province, China.
The new joint venture, named Anhui New Nangang Johnson Controls Automotive Trim Co., Ltd., will provide Chinese automakers with a variety of services from fabric design, engineering and manufacturing to trim products. The joint venture owns the capability of warp knitting and circular knitting, and its product portfolio includes woven fabrics as well as seat trim covers.
Mr. Qian Li, deputy mayor of Huainan City, Mr. Ma Zhengang, general manager, Yanfeng Automotive Trim Systems Co., Ltd., Eric Sorret, group vice president and general manager China, Johnson Controls Automotive Experience, and Mr. Tong Qingxuan, general manager, Anhui Yansheng Automotive Trim Co., Ltd., attended the signing ceremony.
"Through vertical integration in recent years, Johnson Controls has developed world-class capabilities globally in weaving, knitting, fine trimming, lamination, dyeing and fabric tune-up technologies." said Sorret.
"China is a strategic market for Johnson Controls. We are committed to supporting the development of the Chinese market. As the third fabrics facility in China, this new joint venture will leverage Johnson Controls' global capabilities, allowing us to support customers in differentiating their vehicle programs," Sorret added.
"Johnson Controls is one of the first global Fortune 500 companies to invest in Huainan," said Mr. Qian Li, deputy mayor of Huainan City. "We believe the joint venture will provide a great opportunity for the city's industry and human resource development."
The joint venture is expected to start operations in October 2014. Financial terms regarding the transaction were not disclosed.