Latest News broke about Hitachi and Johnson Controls Joint venture
According to the latest information Hitachi, Ltd. and Hitachi Appliances have made a Joint venture with Johnson Controls to become the worlds largest commercial air conditioning provider with Johnson Controls to obtain a 60% ownership stake in Hitachi Appliances' global air conditioning business.
This joint venture will be fruitful of both the companies as both the companies are known for their leadership is various sectors.
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries while Hitachi is known for his innovation over the time. The news broke out today i.e 3rd December, The companies expect the joint venture to begin operations in 2014. The joint venture will combine Johnson Controls' global reach with Hitachi's technology expertise.
Alex Molinaroli, president and chief executive officer, Johnson Controls said tha Technology leadership derived from its ongoing investments in research and development have established Hitachi as a key contributor to the global HVAC industry & with addition of these capabilities adds key technologies to our product portfolio. Combined with our existing $15 billion building technologies and services business, this investment positions Johnson Controls as the world's largest commercial air conditioning provider."
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