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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 11, 1999
Commission File Number 1-5097
JOHNSON CONTROLS, INC.
(Exact name of registrant as specified in its charter)
Wisconsin 39-0380010
(State of Incorporation) (I.R.S. Employer Identification No.)
5757 N. Green Bay Avenue
P.O. Box 591
Milwaukee, Wisconsin 53201
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (414) 228-1200
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ITEM 5 OTHER EVENTS
Johnson Controls wishes to take advantage of the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995 by filing this Form 8-K. Many
of these factors addressed below have been discussed in prior filings by Johnson
Controls. Johnson Controls wishes to caution readers that the following
important factors, among others, in some cases have affected, and in the future
could affect, Johnson Controls' actual results and could cause its actual
consolidated results for the current period, and beyond, to differ materially
from those expressed in any forward-looking statements made by, or on behalf of,
Johnson Controls.
- -- A significant decline in the automobile production rate in the US, Europe
and/or South America; a restriction in the ability of auto manufacturers to
outsource component manufacturing to outside suppliers, whether as a result
of collective bargaining agreement, union negotiations or otherwise; a
significant decline in new construction of commercial buildings; moderation
in the outsourcing of facility management of commercial buildings and the
privatization of facility management of government facilities; changes in
automobile battery suppliers by Johnson Controls' major customers; major
changes in energy costs or government regulations that would decrease the
incentive for commercial and government customers to save energy; labor
strikes, work stoppages, or other interruptions to or difficulties in the
employment of labor in the major markets where the corporation purchases
material, components, and supplies for the production of its products or
where its products are produced, distributed or sold.
- -- Significantly increased pressure to change the selling price for Johnson
Controls' products with resulting effects on margins; increased entries of
new competitors into markets;
- -- Underutilization of Johnson Controls plants and factories, or of any plant
expansions or new plants, resulting in production inefficiencies and higher
costs; start-up expenses and inefficiencies and delays; overcapacity of the
production plants in the industries in which Johnson Controls operates;
cyclicality of the auto parts industry; Johnson Controls' ability to remain
a Tier 1 supplier to the auto industry; impact of weather on demand for
products of Johnson Controls; impact of the financial condition of its
suppliers on Johnson Controls;
- -- Johnson Controls' ability to achieve cost reduction targets; amount, rate
and growth in Johnson Controls' selling, general and administrative
expenses; and the impact of unusual items resulting from on-going
evaluations of business strategies, asset valuations, acquisitions,
divestitures and organizational structures;
- -- The effects of, and changes in, trade, monetary and fiscal policies, laws
and regulations, other activities of governments, agencies and similar
organizations, and social economic conditions, such as trade restrictions or
prohibitions; inflation and monetary fluctuations; import and other charges
or taxes; the ability or inability of Johnson Controls to obtain, or hedge
against, foreign currency, foreign exchange rates and fluctuations in those
rates; nationalizations and unstable governments and legal systems, and
intergovernmental disputes as well as actions affecting frequency, use and
availability, spectrum authorizations and licensing;
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- -- The costs and other effects of legal and administrative cases and
proceedings (whether civil, such as environmental and product-related, or
criminal), settlements and investigations, claims, and changes in those
items; the costs associated with any recalls for products manufactured by
Johnson Controls; developments or assertions by or against Johnson Controls
relating to intellectual property rights and intellectual property licenses;
adoptions of new, or changes in, accounting policies and practices and the
application of such policies and practices;
- -- The addressing of Year 2000 readiness in a timely fashion by Johnson
Controls and its enterprises, its customers and vendors, and utilities and
government entities;
- -- The addressing of the conversion to the "euro" in a timely fashion by
Johnson Controls and its enterprises and its customers and vendors;
- -- Economic circumstances in the financial marketplace that affect Johnson
Controls' ability to market short- and long-term debt;
- -- Persistence of long-term economic uncertainty in Asia or other emerging
markets in which the Company competes.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be to be signed on its behalf by the
undersigned hereunto duly authorized.
JOHNSON CONTROLS, INC.
BY Stephen A. Roell
Senior Vice President and
Chief Financial Officer
Date: October 11, 1999
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