September 6, 2016 – “We are more than just two businesses that have come together—we are now one team uniquely positioned to create value,” said Alex Molinaroli, chair and CEO of Johnson Controls, which began operations today as a newly formed company following the completion of its merger with Tyco.
By uniting with Tyco (a player in fire and security solutions), building efficiencies mover Johnson Controls says the new company “is uniquely positioned as a leader in products, technologies and integrated solutions for the buildings and energy sectors”.
With $30 billion in revenue and 117,000 employees (following the anticipated spinoff of the Adient automotive business in October), this merger combines product, technology and service capabilities across controls, fire, security, HVAC and energy storage to serve “the full spectrum of end markets, including large institutions, government, commercial buildings, retail, industrial, small business and residential”.
Tyco and Johnson Controls’ buildings platforms create immediate opportunities for growth through cross-selling, complementary branch and distribution channel networks, and expanded global reach for established businesses, added Johnson.
Longer term, the company says it is positioned to drive new innovations in technology and business models to support the smart buildings, campuses and cities of the future, as well as build upon strategic, high value-added services driven by data analytics and connectivity.
Johnson Controls says it will also have one of the largest energy storage platforms, with capabilities spanning the technology spectrum to serve an expanding global energy storage market.
“Our combined insights and world-class technologies will help build even smarter, more secure and more sustainable environments that help our customers win and broadly move the world forward,” added Molinaroli.
PHOTO: Corporate HQ in Glendale, Wisc., courtesy Johnson Controls.