Following the completion of its merger with Tyco, Johnson Controls officially begins operations today as a new company operating in a wide range of markets.
By uniting Johnson Controls, a provider of building efficiency solutions with Tyco, which provides fire and security solutions, the new company is uniquely positioned as a leading provider for the buildings and energy sectors.
With $30 billion in revenue and 117,000 employees (following the anticipated spinoff of the Adient automotive business next month), this new combination brings together product capabilities across controls, fire, security, HVAC and energy storage.
Tyco and Johnson Controls’ buildings platforms has created immediate opportunities for growth through cross-selling, complementary branch and distribution channel networks, and expanded global reach for established businesses.
Longer term, the company is uniquely positioned to drive new innovations in technology and business models to support the smart buildings, campuses and cities of the future.
Johnson Controls chairman and CEO, Alex Molinaroli, said the company will also have one of the largest energy storage platforms in the market.
“We are more than just two businesses that have come together – we are now one team uniquely positioned to create value,” he said.
“Our combined insights and world class technologies will help build even smarter, more secure and more sustainable environments that help our customers win and broadly move the world forward.”
As a result of the robust integration planning already in place, the company is on track to realize $1 billion of savings related to previously announced merger synergies and productivity initiatives.
Johnson Controls president and chief operating officer, George R. Oliver, said that in addition to identifying significant synergies and improvements, the integration teams completed the merger a month ahead of schedule.
"Now we can hit the ground running and realize the value of the merger for customers and shareholders,” Oliver said.
“We are ready to integrate the skill sets and capabilities of both companies and develop solutions to meet our customers’ needs in ways neither company could on its own.”
Johnson Controls’ automotive business is still on schedule to spin off into an independent company, known as Adient, on October 31, 2016.