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June 19, 2003

GERMANY: Johnson Controls buys Borg Instruments

Automotive supplier Johnson Controls Inc. will buy closely held German automotive-electronics maker Borg Instruments AG, a maker of instrument clusters, navigation systems and sensors that aid drivers while parking, Bloomberg News reported.

By bcusack

Johnson Controls Inc. will buy closely held German automotive-electronics maker Borg Instruments AG, a maker of instrument clusters, navigation systems and sensors that aid drivers while parking, Bloomberg News reported.

Johnson Controls reportedly said the purchase will add to fiscal 2004 earnings and is expected to be completed by the end of the third quarter. Remchingen, Germany-based Borg had sales last year of $65 million, the report said.

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