Johnson Controls will take a 60% stake in the global air conditioning business of Hitachi Ltd., under a joint venture announced on December 3. The JV would combine new energy-efficient technologies developed by Tokyo-based Hitachi with the building efficiency business of Johnson Controls, which has nearly 700 offices in more than 150 countries. The companies said the joint venture is expected to launch in 2014, subject to regulatory and other approvals. The companies said they were exploring additional ways to combine forces. (Source: The HVAC&R Industry, December 5, 2013)
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