Johnson Controls (NYSE:JCI) has stepped up its role in India.
On Tuesday, the auto parts manufacturer and self-proclaimed "global leader in automotive seat systems and components" announced that it has bought out local partner Tata Automotive Components' 50% interest in the companies' Tata Johnson Controls joint venture. The purchase -- whose price both parties agreed not to disclose -- gives Johnson control over 11 joint venture locations across India and a work force of 2,100.
Announcing the acquisition, Johnson Controls Automotive Experience India CEO Paul Chawla called India "an emerging market and part of Johnson Controls' global strategy for sustainable growth." Added Chawla, "We enjoyed our partnership with Tata AutoComp, and thank them for their support in making TJC a leading seating systems company in India. We are looking forward to building on the successes of the partnership." Johnson Controls has operated in India since 1995.
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