News Release
CONTACT: FOR IMMEDIATE RELEASE
Glen Ponczak
414-524-2375
[email protected]
Johnson Controls Announces Investment in Auto Supplier Donnelly Corp.
MILWAUKEE, Wisconsin -- (November 7, 2000) -- Johnson Controls, Inc. (NYSE: JCI)
today announced that it has purchased stock in the Donnelly Corporation, a
Michigan based supplier of automotive rearview mirror systems, modular window
systems and handle products. The shares had been held by the Heartland Funds of
Milwaukee, Wis. The 1.54 million shares purchased represent approximately 3.3%
of the voting power of Donnelly and 15.1% of its common shares outstanding.
Johnson Controls said it has had a positive commercial relationship with
Donnelly and that it has no other plans with respect to the company.
Johnson Controls is a global market leader in automotive systems and facility
management and control. In the automotive market, it is a major supplier of
seating and interior systems, and batteries. For nonresidential facilities,
Johnson Controls provides building control systems and services, energy
management and integrated facility management. Johnson Controls, founded in
1885, has headquarters in Milwaukee, Wis. Its sales for 2000 totaled $17.2
billion.
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