JCI buying stake in Korean battery joint venture


Johnson Controls Inc. is buying 90 percent of its existing South Korean battery making joint venture Delkor Corp. and investing another $40 million to increase capacity.

The acquisition will cost about $90 million, with the remaining 10 percent stake in the company being purchased by Delkor’s existing local management team, Glendale, Wis.-based Johnson Controls said in a July 23 press release.

Delkor, based in Seoul, makes standard lead acid batteries primarily for the auto industry, including...
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