Oct. 13, 2005: Johnson Controls To Purchase Remaining Interest In Detcon
MILWAUKEE - Johnson Controls Inc. has announced plans to purchase the remaining interest in its Argentinean joint venture, Detcon S.A. Detcon is a provider of integrated building automation, fire, life safety, and security systems based in Buenos Aires, Argentina.
Johnson Controls currently has a 48 percent stake in Detcon Argentina that was secured in December 1997, with the balance of the business being owned by its president and general manager, Alberto Jorge Alvarez. The two parties have entered into a definitive stock purchase agreement and expect to close the transaction early in November.