Johnson Controls (JCI) is approaching private equity firms as it looks to sell its automotive electronics unit estimated to be worth about US$1bn.

Rival auto parts suppliers have showed little interest in the acquisition due to the unit’s weak performance it reported sales of $1.4bn in fiscal 2012.

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Reuters reported Visteon and SAIC’s Huayu are among suppliers still interested in acquiring the unit. Delphi Automotive is no longer interested.

“[JCI] has been marketing its electronics business for divestiture, we have experienced strong interest from multiple strategic buyers. The process is proceeding as previously outlined,” the company said in a statement.

JCI has put the automotive electronics unit up for sale as it plans to focus on its higher revenue generating units making automotive batteries, vehicle interiors and building controls.

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