Johnson Controls Inc. has agreed to sell its headliner and sun visor businesses to a unit of private equity firm Atlas Holdings LLC, Automotive News reports.
The deal, whose details were not disclosed, is the latest move by JCI to streamline its portfolio and boost the profitability of its business units. The company expects to finalize the sale at the end of April.
Last year JCI sold its electronics business in two chunks to Visteon Corp. and Gentex Corp. The company's remaining interiors group makes cockpit trim and instrument panels.
Once the playground of exotic car makers, the definition of a niche vehicle has expanded to include image vehicles for mainstream OEMs, and specialist models produced on high-volume platforms.
The little car that could still can. And this time as a car that not only gets great fuel economy, but which has ride and handling that makes it more than an econo-box (and its styling is anything but boxy).
It’s the fifth generation of a vehicle that has been increasing in sales year after year since its introduction in 1997.