Summary: Johnson Controls Inc. Jul 02
- ID: 2085868
- July 2002
- Standard & Poors
The ratings reflect Johnson Controls Inc.'s leading positions in the automotive supply and building controls industries, and its moderate financial profile. Johnson Controls' automotive group accounts for about 75% of total company revenue. The company manufactures seat systems, interior components and systems, and batteries. The bulk of automotive revenue comes from the original equipment segment, where competition is intense and demand is cyclical. The company's good geographic diversity, with sales in the U.S., Europe, and Latin America, and strong technological capabilities somewhat offset these risks. The October 2001 acquisition of Sagem SA's electronics business for $435 million improved Johnson Controls' geographic and customer diversity, and increased the company's automotive electronic capabilities, which is a growth area in the industry. Johnson...
Companies mentioned in this report are: Johnson Controls Inc.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >