Johnson Controls to Buy Ferro Manufacturing Co.
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MILWAUKEE — Johnson Controls Inc. said it agreed in principle to acquire Ferro Manufacturing Co., a Southfield, Mich.-based maker of automotive mechanisms and accessories.
Terms weren’t disclosed.
Johnson Controls said the acquisition is subject to a definitive agreement and to approval by Johnson Controls’ board and the board and stockholders of Ferro.
Johnson Controls said the acquisition will complement the recently acquired Hoover Universal automotive seating business.
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