European Investment Bank loan for Johnson Controls: more research for environmentally friendly automotive equipment
Burscheid, Germany (ots) -
The project will also make an important contribution to the vocational training of adolescents and young adults
Johnson Controls, a global multi-industrial company with established core businesses in the automotive, building and energy storage industries, is strengthening its research and development in the field of eco-friendly automotive equipment. The European Investment Bank (EIB) is making a EUR 220m loan available to the company.
"Johnson Controls highly appreciates this loan from the EIB. It will enable us to further strengthen our research and development activities in the field of eco-friendly automotive seating solutions," said Jean-Philippe De Waele, treasurer Europe, Middle East and Africa for Johnson Controls.
Johnson Controls is a technological and market leader in the development of car seats and complete seating systems in particular. The loan being provided by the EIB will help Johnson Controls advance its research & development activities. One of the areas that the company is addressing is reducing the weight of seats by using lighter materials to further decrease the overall weight of vehicles. Lighter vehicles will in turn help reduce harmful emissions. The aim is to help automotive manufacturers comply with increasingly stringent environmental standards. However, safety aspects also play an important role for Johnson Controls - the company does not allow for any compromises in this area. The seats, together with other car interior components, are intended to be both reliable and durable, as well as to be produced in a cost-effective manner.
The project will also make an important contribution to the vocational training of adolescents and young adults, as part of the loan will support vocational training programs in Johnson Controls' production plants in Germany. Around 240 apprentices will benefit from these programs throughout the duration of the project, helping to safeguard jobs and increase know-how.
"Johnson Controls is one of the industrial enterprises whose commitment to research and development is well above-average. It thus makes a crucial contribution to Europe's innovative capability and competitive strengths. Furthermore, a knowledge-based economy is dependent on a skilled and competent workforce. The vocational training aspect is therefore another important element of the funding that has now been made available," said EIB Vice-President Wilhelm Molterer, whose responsibilities include the Bank's activities in Germany.
About Johnson Controls
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 170,000 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.
About Johnson Controls Automotive Experience
Johnson Controls is a global leader in automotive seating, overhead systems, door and instrument panels, and interior electronics. We support all major automakers in the differentiation of their vehicles through our products, technologies and advanced manufacturing capabilities. With 240 locations worldwide, we are where our customers need us to be. Consumers have enjoyed the comfort and style of our products, from single components to complete interiors. With our global capability we supply approximately 50 million cars per year.
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