Bloomberg reports that Johnson Controls (NYSE:JCI) will stop producing lead-acid batteries at its Ohio plant in favor of AGM batteries.
The market news is quoted as saying,
The new power sources sell for twice as much as the traditional lead-acid batteries now made at the factory and are three times as profitable, Chief Financial Officer Bruce McDonald said at an investor presentation last month. AGM batteries have greater power to handle new fuel-saving equipment, such as devices that turn an engine off when a vehicle is stopped.
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