JCI to Spin Off Auto Interiors Business

MILWAUKEE (WHTC) – In its quarterly earnings statement, Johnson Controls officials announced that it plans to pursue a tax-free spinoff of its Automotive Experience Business over a 12-month span into an independent, publicly-traded company. This includes its automotive interiors operations in Holland, but the Milwaukee-based parts maker didn’t say what impact the move would have on that. The spinoff has no bearing on JCI’s Power Solutions division that operates the 48^th Street advanced battery plant in the Tulip City.