Johnson Controls weighs auto electronics unit sale
Johnson Controls says it has hired bankers to explore selling its auto electronics business, but denies a report that it is trying to sell its auto interiors unit.
The Milwaukee company makes a variety of auto parts, batteries for cars and other products and building products such as heating and ventilation systems.
Its auto interiors division includes instrument panels and door and floor consoles. The auto electronics unit houses products such as infotainment systems and lighting controls.
The entire automotive experience segment, which also includes a unit that makes car seats, accounted for about half the company's sales in 2012. Auto batteries are manufactured by a separate power solutions division.
Reuters reported Wednesday that Johnson Controls was exploring selling its auto interiors unit, citing unidentified people familiar with the matter, so it could focus on more profitable businesses.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)