Johnson Controls has started operations today (6 September) following the successful completion of its merger with Tyco.
With US$30bn revenue and 117,000 employees, following the anticipated spin-off of the Adient automotive business in October, the combination brings together product, technology and service capabilities across controls, fire, security, HVAC and energy storage.
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“We are more than just two businesses that have come together – we are now one team positioned to create value,” said Johnson Controls chairman and CEO, Alex Molinaroli.
“Our combined insights and technologies will help build smarter, more secure and more sustainable environments that help our customers win and broadly move the world forward.”
As a result of what Johnson Controls describes as “robust integration planning already in place,” the company says it is on track to realise US$1bn of savings related to previously announced merger synergies and productivity initiatives.
“In addition to identifying significant synergies and improvements, our integration teams put us in position to complete the merger a month ahead of schedule so we can hit the ground running and realise the value of the merger for customers and shareholders,” said Johnson Controls president and COO, George Oliver.
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By GlobalData“We are ready to integrate the skill sets and capabilities of both companies and develop solutions to meet our customers’ needs in ways neither company could on its own.”
As previously announced, Johnson Controls’ automotive business is still on schedule to spin off into an independent company, known as Adient, on 31 October this year.
