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Power/Alternative Energy??

Delphi to sell battery business to JCI

Posted: 30 Mar 2005 ?? ?Print Version ?Bookmark and Share

Keywords:Johnson controls? lead-acid battery?

Delphi Corp. has signed a non-binding letter of intent with Johnson Controls Inc. (JCI) to sell its global lead-acid battery business for about $212.5 million. The transaction is subject to negotiation of definitive agreements, due diligence, completion of information and consultation procedures with the Works Councils in Europe, final negotiations with the UAW and IUE, and necessary corporate and regulatory approvals, as well as certain other closing conditions.

Delphi has already consolidated the production of its Anaheim and Olathe battery operations into its two remaining battery operations at New Brunswick, New Jersey and Fitzgerald, Georgia. The ultimate disposition of Delphi's two remaining U.S. facilities will be determined based upon final negotiations with the UAW and IUE, and conclusion of the definitive acquisition agreement with JCI.





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