Johnson Controls Ends Saft Joint Venture

Zacks reports that Johnson Controls Inc. (NYSE:JCI) ended the 5-year joint venture with French battery maker Saft Groupe SA by acquiring its share for $145 million in cash.

The market news is quoted as saying:

The Johnson Controls-Saft Advanced Power Solutions joint venture was formed in January 2006 to develop, manufacture and sell lithium-ion batteries for hybrid and electric vehicles.

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