Industrial Battery Division Sold
Johnson Controls sells the Industrial Battery Division
March 1, 1999 (PD: 201706)
Johnson Controls sold its Industrial Battery Division to C & D Technologies, a producer and marketer of electrical power storage and conversion products, for $120 million in cash on March 1, 1999.
The Industrial Battery Division had sales of $87 million for fiscal year 1998. It produced industrial batteries under the Dynasty brand name for the uninterruptible power supply needs of the telecommunications, broadband cable, and other industries. Nearly 80% of the Division’s sales came in North America, with the remaining 20% in Europe and Asia.
The Division had its start in 1972 as a part of Globe-Union, which Johnson Controls acquired in 1978. It operated one manufacturing plant which was located in Milwaukee.
Johnson Controls also sold a related battery joint venture business in Shanghai, China to C & D in August 1999 for $15 million in cash.