Johnson Controls Announces Price Increase for Lead-Acid Batteries
MILWAUKEE, April 13, 2011
MILWAUKEEApril 13, 2011 /PRNewswire/ — As a result of rising commodity and handling costs, Johnson Controls, Inc., (NYSE: JCI) will implement an average price increase of 5 percent to 9 percent on batteries sold in the United States and Canada for orders starting April 1, 2011. Lead price adjustment agreements remain in effect.
This action is necessary to offset rising raw material and delivery costs, including costs associated with improved packaging and transportation in support of safety standards from the U.S. Department of Transportation.
The last price increase from Johnson Controls was in 2008.
About Johnson Controls:
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 142,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful. In 2011, Corporate Responsibility Magazine recognized Johnson Controls as the #1 company in its annual "100 Best Corporate Citizens" list. For additional information, please visit http://www.johnsoncontrols.com.
About Johnson Controls Power Solutions:
Johnson Controls Power Solutions is the global leader in lead-acid starter batteries, advanced lead-acid batteries for Start-Stop vehicles and Lithium-ion batteries for hybrid and electric vehicles. Our 35 manufacturing facilities supply more than one third of the world's lead-acid batteries to major auto makers and aftermarket retailers. Through our innovations we are building the advanced battery industry for hybrid and electric vehicles. Our joint venture, Johnson Controls-Saft, is the first company in the world to produce lithium-ion batteries for mass production hybrid vehicles. Our commitment to sustainability is evidenced by our world-class technology, manufacturing and recycling capabilities.
SOURCE Johnson Controls, Inc.