NEW YORK (AP) -- Johnson Controls Inc. has signed an agreement to buy Michel Thierry, a French supplier of fabrics and lamination, in a bid to boost its position as an automotive textile manufacturer, the auto parts supplier said Wednesday.
Johnson Controls, the Milwaukee maker of auto batteries and interiors, said the acquisition also improves its position in the Chinese and North American markets. The acquisition is expected to close in November.
Terms were not disclosed.
Michel Thierry is headquartered in Laroque d'Olmes, France, and has operations in Spain and the Czech Republic. The 1,700-employee company makes textiles and leather for automotive seating and interiors.
Shares of Johnson Controls rose 37 cents, or 1.1 percent, to $32.91 in morning trading Wednesday.
Johnson Controls, the Milwaukee maker of auto batteries and interiors, said the acquisition also improves its position in the Chinese and North American markets. The acquisition is expected to close in November.
Terms were not disclosed.
Michel Thierry is headquartered in Laroque d'Olmes, France, and has operations in Spain and the Czech Republic. The 1,700-employee company makes textiles and leather for automotive seating and interiors.
Shares of Johnson Controls rose 37 cents, or 1.1 percent, to $32.91 in morning trading Wednesday.
