Johnson Controls, Inc., (Milwaukee, WI), has received approval from European Commission anti-trust authorities to proceed with its acquisition of seat recliner systems maker Keiper and custom seat manufacturer Recaro Automotive (both Kaiserslautern, Germany). The acquisition was announced on January 3, 2011.
|Johnson Controls beefs up its seating business.|
Recaro Automotive offers complete seats for automakers and as aftermarket equipment. As part of the transaction, Johnson Controls also acquires the licensing rights for the exclusive global use of the Recaro trademark for the automotive industry. The acquisition includes 4,750 employees at 13 locations across seven countries.
Recaro Aircraft Seating, Recaro Child Safety and Recaro Home are not part of the acquisition and will remain part of Putsch Holding in Kaiserslautern, Germany. Also excluded are Keiper's operations, business and entity in Brazil. Financial terms of the transaction were not disclosed. -[email protected]