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Old 11-26-2008, 08:14 AM   #2
Join Date: Jun 2007
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Default Johnson Controls forms JV with Guangzhou Auto

Johnson Controls forms JV with Guangzhou Auto

November 26, 2008

Shanghai, November 26 ( Global automotive interiors supplier Johnson Controls signed an agreement on Monday with China Guangzhou Automobile Group Component Co., Ltd. (GACC), a subsidiary of Guangzhou Automobile Industry Group Co., Ltd. (GAIG), to build a joint venture plant in Guangzhou, according to the company's press release.

The new venture, called Guangzhou GACC-Johnson Controls Automotive Interior Systems Co, will focus on the design, development, engineering and manufacture of automotive interior products and systems such as instrument panels and floor consoles.

Construction is scheduled to be completed by 2009 and it is expected to offer efficient just-in-time service to customers in southern China when production started in early 2010.

Established on August 28, 2000, GACC is the wholly-owned company of GAIG with registered capital of 185.68 million yuan. It has 16 enterprises and the total assets under its jurisdiction are worth 7 billion yuan. It currently employs 8,300 personnel and provides products and related services to Guangzhou Honda, Dongfeng Nissan, Guangzhou Toyota and other car manufacturers.
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