09:03 EST 7/23/03
Johnson Controls, Inc. (JCI) of Milwaukee plans to acquire Borg Instruments AG of Burscheid, Germany, and expects to close the deal by summer 2003, and accrete its earnings in fiscal 2004. Borg Instruments is predicted to grow at over 35% a year through 2006 based on existing customer orders. JCI is a global leader in automotive systems and facility management and control, and Borg Instruments specializes in high-end instrument clusters, reconfigurable and other information displays, center stack display modules, electric parking assistance and a “turn-by-turn” Quo Vadis navigation system. The two companies’ electronics capabilities would seem to be very complementary.
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