Shareholders Dispute Over Future of Johnson Controls-Saft

MILWAUKEE, May 18, 2011 /PRNewswire/ -- Johnson Controls, Inc., a shareholder of the joint venture Johnson Controls-Saft, today took legal action asking a Delaware Chancery Court to dissolve Johnson Controls-Saft Advanced Power Solutions LLC, which is a joint venture between Johnson Controls and Saft.  

Neither Johnson Controls-Saft, nor any of its subsidiaries, are an active party to the legal action. This matter arises out of a disagreement between Johnson Controls and Saft about the future direction of the joint venture.

While the legal issues raised by Johnson Controls are being resolved in the Delaware Chancery Court, Johnson Controls-Saft remains committed to ensuring that it fulfills all its contractual agreements, including, for example, on-going customer development and related investments, and all supply agreements.

Furthermore, Johnson Controls-Saft personnel continues to be fully dedicated to exceed our customers' expectations.

SOURCE Johnson Controls-Saft