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Johnson Controls names new auto company Adient

By Niranjan Mudholkar,

Added 14 January 2016

The entity will be spun off into a new publicly traded company in October 2016.

In his presentation, McDonald said he expects Adient to implement new strategies that will drive higher levels of growth and profitability as well as strong cash flows. He said Adient will increase its investments in innovation in order to gain share and increase value to customers and shareholders.

Adient expects to disclose detailed financial information in late March or early April with the filing of a Form 10 Information Statement with the U.S. Securities and Exchange Commission. Once filed, a copy of the form will be made available on the Investors page of www.johnsoncontrols.com and after October 1, 2016, on www.adient.com.

Adient common stock will be traded on the New York Stock Exchange under the ticker symbol ADNT. The first day of trading is expected to be Monday, October 3, 2016.
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