Johnson Controls is going to acquire York International
Johnson Controls is going to acquire York International – the largest indipendent supplier to the global heating/cooling market, said from the companies. “Johnson Controls will acquire York for 56.50 USD per share. Transaction value of approximately 3.2 billion USD, including debt. York’s Board of Directors has unanimously recommended that York shareholders vote in favor of the transaction. Transaction expected to close in December 2005, subject to customary regulatiry approvals and York shareholder approval”, said John M. Barth, Chairman and Chief Executive Officer of Johnson Controls.
The Johnson Controls Group is a major worldwide supplier of installed control systems and technical and facility management services. The company has 31 300 employees, operating income for 2005 310 million USD and revenue for 2005 5.9 billion USD. Control Group products and services are represented in over 45 countries with over 330 sales and services offices and 5 manufacturing plants.
York is a dlobal leader in heating, ventilating, air-conditioning and refrigeration products and services. The company is organized into three divisions: Global Applied, Unitary Products Group, and Bristol compressors. York designs, manufactures, sells, and services chillers, air handlers, compressors, and other products for commercial and residential use, as well as the food, chemical, and petroleum industries. Brand names include: YORK, LUXAIRE, Frick, Bristol compressors and FRASER-JOHNSTON. York sells its products in more then 125 counties.
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