Johnson Controls to sell Scroll, buy Berg
Milwaukee-based Johnson Controls, Inc. announced plans to sell its 50% interest in Scroll Technologies, Inc., a joint venture with Carrier Corp. The company also announced the acquisition of Berg Inc., a Shreveport, LA-based mechanical services company.
Scroll Technologies manufactures scroll compressors at its Arkadelphia, AR facility. Danfoss, a Danish manufacturer of compressors and other refrigeration components, has agreed to buy 100% of Scroll Technologies, including all the ownership interests of both Johnson Controls and Carrier. The sale is pending customary regulatory and other approvals.The transaction is expected to close in late 2006.
Berg provides HVAC and plumbing services for commercial and industrial customers throughout Louisiana, east Texas and southern Arkansas. The company currently has approximately 231 employees.
Specific financial terms were not disclosed for either transaction.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey