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Johnson Controls spins off business
The recently announced plan from Johnson Controls Inc. to spin off its $22 billion automotive parts business into a new publicly traded company will include a portion of the company’s interiors plant in Northwood, but not its battery factory in Holland. The move to spin off its automotive seating business fits into a larger strategy from Johnson Controls to cut down its reliance on the auto industry, even as the automotive sector has made up more than half of its annual revenues.
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