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The Automotive Seating and Interiors Business of Johnson Controls is becoming Adient

On July 24, 2015 Johnson Controls announced its intent to spin-off its Automotive Seating and Interiors Business into an independent company. The name of this new company will be Adient. The spin-off is targeted for October 31, 2016 and on that day Adient plans to list on the New York Stock Exchange (NYSE) under the ticker symbol ADNT.

“Adient will be the world's largest automotive seating supplier,” said incoming Adient Chairman and Chief Executive Officer R. Bruce McDonald. “As an independent public company, we will have the flexibility to invest in our core business and rapidly capitalize on emerging automotive trends. With a strong focus on innovation and operational excellence on a global scale, and driven by a strong management team, we will be positioned to provide unparalleled service to our customers."

Adient will be the global leader in the $60 billion automotive seating market, with approximately 75,000 employees in 230 locations across 33 countries. With $20 billion in consolidated annual revenues, Adient will deliver 25 million seating systems used on more than 360 vehicle nameplates around the globe.

adient.com will be Adient’s presence on the web.

 

To find out more about the creation of Adient, visit the Johnson Controls Media Center

 

Cautionary Statement Regarding Forward-Looking Statements

Johnson Controls, Inc. has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, "deemed "forward-looking statements"" within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding Johnson Controls'' or the combined company's future financial position, sales, costs, earnings, cash flows, other measures of results of operations, capital expenditures or debt levels and plans, objectives, outlook, targets, guidance or goals are forward-looking statements. Words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "forecast," "project" or "plan" or terms of similar meaning are also generally intended to identify forward-looking statements. Johnson Controls cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Johnson Controls control, that could cause Johnson Controls' actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks related to: uncertainties as to the timing of the spin-off and whether it will be completed, the possibility that various closing conditions for the spin-off may not be satisfied or waived, the expected tax treatment of the spin-off, the impact of the spin-off on the businesses of Johnson Controls and Adient, the ability of both companies to meet debt service requirements, the availability and terms of financing and expectations of credit rating, the risk that disruptions from the spin-off will harm Johnson Controls' business, competitive responses to the spin-off, general economic and business conditions that affect Johnson Controls and Adient following the spin-off, the strength of the U.S. or other economies, automotive vehicle production levels, mix and schedules, energy and commodity prices, the availability of raw materials and component products, currency exchange rates, and cancellation of or changes to commercial arrangements. A detailed discussion of risks related to Johnson Controls' business is included in the section entitled "Risk Factors" in Johnson Controls'' Annual Report on Form 10-K for the fiscal year endedSeptember 30, 2015 filed with the SEC on November 18, 2015 and available at www.sec.gov and www.johnsoncontrols.com under the "Investors" tab. Shareholders, potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this document are made only as of the date of this document, unless otherwise specified, and, except as required by law, Johnson Controls assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this document.