Johnson Controls to acquire South Korean battery maker
Johnson Controls Inc. has signed an agreement to acquire 90 percent of its existing joint venture with Delkor Corp., a leading automotive battery manufacturer based in Seoul, South Korea.
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The remaining 10 percent will be acquired by the local management team, with all transactions completed no later than Aug. 15.
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"Delkor is a strong and well-respected brand in Asia," said Alex Molinaroli, president of Power Solutions for Johnson Controls. "The acquisition further represents our commitment to local manufacturing presence and growth in Asia, complementing our recent announcements regarding our planned investments in China."
