Johnson Controls to acquire York International for $2.4-billion
Thursday, August 25th 2005, 6:48 am
By: News On 6
NORMAN, Okla. (AP) -- The owner of a major manufacturing plant in Norman is being bought out.
Johnson Controls is buying York International Corporation, which makes ventilation, air conditioning and refrigeration equipment, for about $2.4-billion in cash.
York's plant in Norman is its worldwide unitary products headquarters, manufacturing residential and light commercial air conditioning systems. The plant accounted for about 18 percent of York's $4.5-billion in sales last year.
Milwaukee-based Johnson Controls says the deal would nearly double its presence in the growing building environments industry. York manufactures and services heating and cooling equipment, and Johnson Controls installs and maintains the technology that controls that equipment.