MILWAUKEE -- Johnson Controls Inc. will acquire an automotive battery company in Mexico, Grupo IMSA, S.A. de C.V., for about $525 million.
The company is a joint venture with Johnson Controls and Grupo IMSA.
The purchase includes the assumption of debt and the remaining 51 percent of the company.
Johnson Controls is a major battery supplier. Also, its automotive unit supplies seating, instrument panels, automotive interiors and other components.