Johnson Controls Inc. (JCI) announced its acquisition of a majority stake in battery company MAC, which conducts business across Central and South America, This was according to a report published by Journal Sentinel.
JCI said it bought 90% of the shares of the South American company. However, other details on the deal were not yet disclosed, the report said.
MAC is a company that JCI launched a couple of years ago in a joint venture. The partnership centered on marketing lead-acid batteries. The deal was struck to propel the company's growth in the market by increasing exports from Colombia. MAC is one of the top brands of lead-acid batteries in Colombia, the report stated.
Johnson Controls is one of the best marketers of lead-acid batteries in Latin America and in the world. The company reportedly has over USD6.3 billion in sales for its power solution business in the previous year, Journal Sentinel said.
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