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Johnson Controls has announced that its new automotive seating and interiors business, Adient, will officially be spun off on October 31, 2016.
The notes are being issued by Adient Global Holdings Ltd, a wholly owned subsidiary of Glendale-based Johnson Controls that will be transferred to Adient in connection with the planned spin-off.
In addition, Johnson Controls announced that, following the consummation of its merger with a subsidiary of Tyco International plc and the spin-off of Adient, Johnson Controls intends to explore alternatives for its outstanding debt securities.
Adient will have corporate offices at the newly constructed 833 East building in downtown Milwaukee.