Johnson Controls officials announce new automotive spinoff company called Adient
GLENDALE — Johnson Controls officials have announced a new automotive spinoff company called Adient.
It is expected that there will be an initial public offering of Adient stock in October.
The spinoff is part of an effort to transform the Glendale-based Johnson Controls into a true multi-industrial company, and to ensure it becomes less susceptible to seasonal swings in demand.
Adient will be based in Milwaukee.
A floor has been leased in the 833 East building under construction in downtown Milwaukee.
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