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Johnson Controls to Acquire 90% of Lead-Acid JV Delkor Corporation

Johnson Controls, Inc. signed an agreement to acquire 90% of its existing joint venture with Delkor Corporation, a leading automotive battery manufacturer based in Seoul, South Korea. The remaining 10% will be acquired by the local management team, with all transactions completed no later than 15 Aug. 2010.

The Delkor joint venture was part of Johnson Controls’ acquisition of Delphi’s global automotive battery business in 2005.

Johnson Controls will invest approximately $90 million in the acquisition. The company is also investing an additional $40 million to add 2.7 million units in capacity, increasing Delkor’s total capacity to approximately 10 million batteries per year.

Comments

Henry Gibson

It is almost time for there to be a requirement to make batteries with less lead per unit capacity. This is to allow the use of cheapp lead batteries in automobiles. Firefly was going to do it. But lithium is more exotic so the US goverment decided to kill Firefly, and so did caterpillar and the Swedish company. Optima batteries can do it and can be modified to do it better. Optima batteries can be made for electric cars and plug in hybrids. The csiro battery in optima form could be investigated. ..HG..

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