Johnson Controls to buy Fiamm battery business

Battery unit posted sales worth US$241m in 2005

Johnson Controls Incorporated will buy Fiamm Group’s automotive battery business. The agreement, which includes the battery segment's operations in Avezzano and Veronella and sales and warehouse operations throughout Europe, is expected to close by the end of this year, subject to a definitive acquisition agreement and European Union anti trust approval. The deal excludes Fiamm's Mlada Boleslav Czech Republic plant. Terms of the agreement were not disclosed. The acquisition of Fiamm’s battery operations will allow Johnson Controls to expand its presence in the fast growing market of Eastern Europe.