Glendale-based Johnson Controls Inc. is planning to sell its automotive headliner and sun visor business to Connecticut private equity firm Atlas Holdings LLC, according to a report from Automotive News Europe.
The deal is expected to close by the end of April, which the company reportedly said will improve the profitability and competitiveness of its automotive interiors business and further strengthen the core interiors business.
Johnson Controls’ remaining interiors segment makes door panels, instrument panels and floor consoles.
The company also announced this week it will open a new manufacturing plant in Querataro, Mexico, to make molded polyurethane foam for automotive seats. Last month, it sold its automotive electronics business to Visteon Corp. for $265 million, completing the divestiture of its automotive electronics unit.