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Johnson Controls and Saft agreement, close the Li-ion automotive battery joint venture

JohnsonControls, Inc. (NYSE: JCI) and Saft (Euronext code: SAFT) have agreed to close their joint venture JohnsonControls-Saft. The joint venture company established in 2006, the main lithium-ion automotive battery development and manufacturing. According to the terms of the agreement, JohnsonControls Saft's share of cash acquired $ 1.45 billion in shares. Agreement includes payment of a sum of Saft JohnsonControls prior to royalties, for use in all markets extended JohnsonControls a Saft lithium-ion technology licensing. This transaction is subject to regulatory approval, the earliest possible in September 30, 2011 reached.

    JohnsonControlsPowerSolutions AlexMolinaroli president, said: "Thank collaboration with Saft this time, very pleased to be able to mutually beneficial way to solve this matter."

    Mr. Chairman JohnSearle Saft Management Committee said: "I am pleased to get this dispute resolved quickly positive, in line with our customers, employees and shareholders on the other hand, Saft joint venture no longer bear this in cash and profit and loss responsibility. Saft Management layer now go all out, all in carefully chosen markets for our lithium-ion technology to look for development opportunities. "

    With the two sides agreed to end cooperation between the two companies of all legal proceedings have ended.

    "For JohnsonControls it, this agreement further reflects our strategic thinking on advanced battery industry." Molinaroli President that "we will continue to take advantage of progress in this area has, in addition, we can now focus on technology, systems, applications and business model, expand all the strategic capability. "

    Joint venture to take over all assets will be JohnsonControls, Charente, France's only the end of 2012 a plant will be transferred to Saft.

    Completion of the transaction, JohnsonControls will operate the company to fulfill the company's existing contract agreement, corresponding with customers and suppliers to cooperate.

    About JohnsonControls:

    JohnsonControls to more than 150 countries / areas of customer service, a variety of technology and a global leader in the industry. The company's 154,000 employees work together to optimize energy and operational efficiency of buildings to provide quality products, services and solutions for hybrid and electric vehicles to provide lead-acid car batteries and advanced batteries for cars interior systems. JohnsonControls commitment to sustainable development can be traced back to its inception in 1885, invented the company's first electric room thermostat. Through the company's development strategy and expanding market share, we are committed to delivering value for shareholders, help in the customer's success. 2011, "corporate responsibility magazine" in its annual "corporate citizenship Hundred" list, which will JohnsonControls as the first.

    About Saft:

    Saft (Euronext code: Saft) is the industrial design and manufacture of advanced technology battery world leader in the field. The Group is the world's leading nickel batteries and the main manufacturers of lithium batteries, widely used in industrial infrastructure and processes, transportation, and municipal and military electronics. With its lithium-ion technology, Saft's battery is the world's leading space and defense, these technologies in energy storage, transportation and telecommunications market is also popular. Saft currently has 4,000 employees in 19 countries / regions and 16 manufacturing sites and extensive sales network, which will promote accelerated development of the Group's future.

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