First Business

September 28, 2013

Sale of Johnson Controls' auto electronics biz could take longer than expected

The process to sell the remainder of Johnson Controls Inc.â;€™s automotive electronics business could take longer than initially planned.

The Glendale-based manufacturer (NYSE: JCI) said Friday it now expects to complete the bidding process for the rest of that business by the end of calendar 2013.

When Johnson Controls announced the $700 million sale of its HomeLink product line July 18, it said it was aiming to announce a definitive agreement for the rest of the auto electronics unit on or beforeâ;€¦;

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