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Johnson Controls: Eyeing majority share in Benoac jv

Pending the approval of Germany’s federal cartel office, automotive interior systems and electronics provider Johnson Controls (JCI, Europe: Burscheid / Germany; www.johnsoncontrols.com) plans to acquire the majority of shares in Benoac Fertigteile (Peine / Germany; www.benoac.de), a joint venture it entered into with Benecke-Kaliko (Hannover / Germany; www.benecke-kaliko.de) and Inoac Corporation (Tokyo / Japan; www.inoac.co.jp) in 1986.

Johnson Controls, which held 4.8% of Benoac to date, intends to buy Benecke-Kaliko’s 84.8% stake in the jv, effectively turning it into the majority shareholder. The deal includes the takeover of the 60 employees working for Benoac, which manufactures slush skins for automotive suppliers.

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