EMEA plant suppliers “NEED to understand local needs”

• Book ID: 104411152
• Publisher: Elsevier Science
• Year: 2005
• Tongue: English
• Weight: 47 KB
• Volume: 2005
• Category: Article
• ISSN: 1365-6937
• DOI: 10.1016/s1365-6937(05)70792-9

✦ Synopsis

In the USA, Johnson Controls Inc is set to acquire York International Corp, a global supplier of heating, ventilating, air conditioning and refrigeration (HVAC&R) equipment and services.

The total value of the acquisition is expected to be worth about US$3.2 billion, including the assumption of around US$800 million of debt. With estimated sales of nearly US$5 billion, York International will become part of Johnson's Controls Group.

Through this acquisition, the group will strengthen its position in the global building environments industry and become one of the largest global providers to the high-margin building services market.

In addition, Johnson Controls' global market reach will be enhanced, because the businesses collectively serve customers from over 500 sales and service offices and reach more than 125 countries with 55 000 employees. The two companies already have a strong presence in Europe and North America, and have complementary operations in the faster growing regions of Central Europe, the Middle East, Asia (especially China) and Latin America.