Shares of Johnson Controls Inc (NYSE:JCI) ended Tuesday session in red amid volatile trading. The shares closed down -0.26 points or -0.59% at $43.94 with 7.67 million shares getting traded. Post opening the session at $44.42, the shares hit an intraday low of $43.77 and an intraday high of $44.51 and the price vacillated in this range throughout the day. The company has a market cap of $28.36 billion and the numbers of outstanding shares have been calculated to be 637.75 million shares.
Johnson Controls Inc (JCI) on Sept. 8, 2016 announced its board of directors has approved the previously announced spin-off of its global automotive seating and interiors business. The transaction will result in two independent, publicly traded companies: Johnson Controls International plc and Adient plc. The spin-off is expected to be completed on Oct. 31, 2016.
At the time of the separation, Adient will be the world’s largest global automotive seating supplier, supporting all major automakers in differentiating vehicles through superior quality, technology and performance. Johnson Controls will continue to operate as a global leader in building products and technology, integrated solutions and energy storage.
“Announcement is an important step as Adient continues on its path toward becoming an independent company,” said incoming Adient Chairman and Chief Executive Officer R. Bruce McDonald. “As the market leader in the automotive seating industry, Adient is well-positioned for growth and margin expansion as we commit to reinvesting in the business on a global basis.”
Shares of Mondelez International Inc (NASDAQ:MDLZ) ended Tuesday session in red amid volatile trading. The shares closed down -0.03 points or -0.07% at $42.84 with 7.26 million shares getting traded. Post opening the session at $43.28, the shares hit an intraday low of $42.80 and an intraday high of $43.83 and the price vacillated in this range throughout the day. The company has a market cap of $66.58 billion and the numbers of outstanding shares have been calculated to be 1.56 billion shares.
Mondelez International Inc (MDLZ) on Sept. 14, 2016 confirmed a $65 million investment to build a global Research, Development & Quality (RDQ) network of the future. The investment will enable the company to better recruit, retain and develop talent across a range of science and technical disciplines while also creating a stronger presence in both emerging and developed markets. When complete, the redesigned network will consist of a combination of new and existing technical centers that will be more flexible and agile in responding to the company’s growth and innovation needs.
Over the next two years, the company will focus its RDQ network at nine advantaged technical centers, concentrating people and resources into better equipped hubs:
- Mexico City, Mexico
- East Hanover, N.J., United States
- Bournville, United Kingdom
- Reading, United Kingdom
- Wroclaw, Poland
- Thane, India
- Suzhou, China
- Jurong, Singapore
- Curitiba, Brazil
“With these advantaged technical centers, we’re focusing our investment in research, equipment and capabilities to drive innovation to support our growth strategy and innovation, margin and quality platforms,” said Rob Hargrove, Executive Vice President, RDQ. “These hubs will enable improved efficiency, effectiveness and accelerated project delivery, while the increased scale across key markets will provide rapid access to changing consumer needs and trends.”