Johnson Controls, Hitachi complete global air conditioning joint venture
Johnson Controls, Milwaukee, Wis., and Japan-based Hitachi Ltd. and Hitachi Appliances, Inc. completed their global joint venture agreement and will immediately commence operations of Johnson Controls-Hitachi Air Conditioning to provide global customers with a full range of air conditioning products and technology.
Through the agreement, Johnson Controls acquired a 60% ownership stake of the new entity; Hitachi Appliances retains ownership of the remaining 40%.