Johnson Controls Is Exploring Strategic Alternatives for Its Power Solutions Business
When former Tyco CEO George Oliver took the helm of Johnson Controls in September 2017, we commented that we saw an increased probability of the firm divesting its power solutions segment, which is the leading global manufacturer of automobile lead-acid batteries. The power solutions segment generated $7.3 billion in revenue (24% of consolidated sales) and $1.6 billion in EBITDA (30% of segment adjusted EBITDA) in fiscal 2017. Our prediction appears poised to become reality. On March 12, Johnson...
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