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Two Large Industry Leaders, GACC and Johnson Controls, Set Up Automotive Component Joint Venture with Full Development Capabilities

Johnson Controls
2008-11-25 19:59 3835

GUANGZHOU, China, Nov. 25 /PRNewswire-Asia/ -- On November 24, Guangzhou Automobile Group Component Co., Ltd. (GACC), which is the subsidiary company of Guangzhou Automobile Industry Group Co., Ltd. (GAIG), signed a joint venture contract and agreement of association with Johnson Controls, a global leader in automotive interiors, at the Shangri-la Hotel in Guangzhou. The two companies agreed to set up a joint venture, called Guangzhou GACC-Johnson Controls Automotive Interior Systems Co., Ltd., to supply automotive interior products, like instrument panels and floor consoles.

(Photo: http://www.prnchina.com/sa/2008/11/200811251810.jpg )

According to the contract, the new Guangzhou GACC-Johnson Controls Automotive Interior Systems Co., Ltd. plant will be located in Panyu District, which is adjacent to the engineering and manufacturing base of GAIG and its subsidiary OEM brands. The construction is scheduled to be complete by 2009. It is planned that the new joint venture will establish local design, development, engineering and manufacturing capabilities for automotive interior products and systems starting in 2010, thus to offer efficient just-in-time service to customers in southern China.

Continuously committed to pursuing excellence, GAIG is a leader in the Chinese auto industry. As one of its subsidiary joint ventures, Guangzhou GACC-Johnson Controls Automotive Interior Systems Co., Ltd. will leverage Johnson Controls' global resources. It will learn and introduce Johnson Controls' innovative interior products and technologies, as well as operational and manufacturing excellence. It will also review Johnson Controls' business practice experience in China over the past decade, to provide world-class services to customers.

At the signing ceremony, Yan Zhuangli, Vice General Manager of GAIG, expressed his strong confidence in the cooperation between GACC and Johnson Controls. He said, "GAIG is working to build up a full range of capabilities covering from core components to vehicle platforms. As the global leader in automotive interiors, Johnson Controls has rich experience in conducting comprehensive cooperation with car manufacturers in China. I firmly believe that as GAIG's business grows, the new joint venture will gain support from the two shareholders and make rapid progress in the future."

Eric Mitchell, Group Vice President and General Manager China - Johnson Controls Automotive Experience, said, "Johnson Controls attaches great importance to building strategic partnerships with Chinese customers, and we are very honored to form this joint venture with GACC. Through deepening our cooperation and mutual development with our OEM customers, it is Johnson Controls' mission to provide the Chinese vehicle consumers with a more comfortable, safe, and enjoyable driving experience. We hope that Johnson Controls' expertise in designing and engineering interior systems that the end consumer wants whilst utilizing our best business processes in achieving operational excellence will enhance GAIG competitiveness in the global automotive market."

About Johnson Controls

Johnson Controls (NYSE: JCI) is the global leader that brings ingenuity to the places where people live, work and travel. By integrating technologies, products and services, we create smart environments that redefine the relationships between people and their surroundings. Our team of 140,000 employees creates a more comfortable, safe and sustainable world through our products and services for more than 200 million vehicles, 12 million homes and one million commercial buildings. Our commitment to sustainability drives our environmental stewardship, good corporate citizenship in our workplaces and communities, and the products and services we provide to customers. For additional information, please visit http://www.johnsoncontrols.com/ .

About Guangzhou Automobile Group Component Co., Ltd. (GACC)

Guangzhou Automobile Group Component Co., Ltd. (GACC), established on August 28, 2000, is the wholly-owned company of Guangzhou Automobile Group Co., Ltd. The registered capital of GACC is in the tune of RMB 185.68 million. It has 16 enterprises and the total assets under its jurisdiction are worth RMB 7 billion. It currently employs 8,300 people. GACC was set up through the assets reorganization of a number of automotive parts manufacturers in Guangzhou, optimizing and upgrading their product development capacity, market competitiveness and organizational structure. At present, GACC provides products and related services to Guangzhou Honda, Dongfeng Nissan, Guangzhou Toyota and other car manufacturers. For additional information, please visit: http://www.gacc.com.cn .

Source: Johnson Controls
Keywords: Auto
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