30 August 2007 - Gide Loyrette Nouel A.A.R.P.I. advises Johnson Controls on the sale of its automotive diagnostics division to SPX Corporation:

On 1 August 2007, Johnson Controls announced the sale of its automotive diagnostics division to SPX Corporation. Gide Loyrette Nouel is acting as legal counsel to Johnson Controls in this transaction which is expected to close at the end of the third quarter of 2007.

The diagnostics division, located in Pontoise and La Ferté Bernard in France, designs and produces automotive diagnostics systems and electronic garage equipment. It employs a staff of around 240 people in France and, in 2006, earned a gross income of some US$ 80 million.

Johnson Controls, listed on the New York Stock Exchange, is one of the world’s leading specialists in automotive interior and building efficiency technology and electrical energy management. It employs a staff of more than 140 000 people.

SPX, which is also quoted on the New York Stock Exchange, is a global supplier of technical and industrial products and services, with a staff of more than 14 000 employees worldwide.

Counsel to Johnson Controls:
Gide Loyrette Nouel: Nadège Nguyen and Edgard Nguyen

Counsel to SPX Corporation:
Orrick Rambaud Martel: the legal team was headed by Georges T. Yates.