Johnson Controls to explore options for automotive business

"Today's announcement continues our strategy of proactive portfolio management to drive focus on strategic product-oriented businesses where we can be a global market leader, drive more profitable growth and deliver maximum long-term value for our customers and shareholders," said Alex Molinaroli, chairman and chief executive officer, Johnson Controls. "I am very pleased that we are consistently delivering on our operating commitments while also building a strong foundation for growth by leveraging our Johnson Controls Operating System (JCOS) across the company." Johnson Controls said it had no specific timetable for the completion of the strategic review, which includes a full range of strategic options for the automotive business. The company is also continuing to actively evaluate growth platforms that are aligned with the operational capabilities and specific attributes of its multi-industrial portfolio.