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Saft Gains Control of French Battery Plant
Johnson Controls Inc. has transferred ownership of a lithium-ion battery factory in Nersac, France, to its former joint venture partner Saft Groupe SA.
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Johnson Controls Inc. has transferred ownership of a lithium-ion battery factory in Nersac, France, to its former joint venture partner Saft Groupe SA.
The transaction was part of Saft's agreement in September to sell its stake in the venture Johnson Controls-Saft Advanced Power Solutions LLC to JCI for $145 million (€111 million). The seven-year-old partnership was dissolved in late October.
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