World News

Industry news and insights from Europe and around the World

UK News

Latest news and developments in the United Kingdom

Products

Keep up-to-date with the latest new products and technology

Features

General articles, applications and industry analysis

Johnson Controls predicts record profits

hi-res-Controls-Group-HQ
The Johnson Controls Building Efficiency headquarters in Milwaukee

USA: Johnson Controls is expecting its joint venture with Hitachi and the divestiture of its GWS business to both be completed during this financial year.

In a meeting in New York today, the company will also announce expectations of record profits in fiscal 2015, which runs to September 30. Consolidated net sales of approximately $42.3bn, similar to 2014, are expected across the company’s three businesses.

“We continue to make progress in re-shaping our portfolio and executing on our strategies to be a leading multi-industry company,” said Alex Molinaroli, chairman and chief executive officer of Johnson Controls. “We believe our strategic and financial plans will continue to drive improved performance and higher operating margins. In the coming years, we believe the Johnson Controls Operating System will increasingly impact our profitability as we implement the Johnson Controls Way, leveraging our unique strengths and expertise across the enterprise.”

The company sees China as a growth opportunity across all of the company’s businesses, representing more than $8bn in annual revenues in 2014.

Leading the way in 2015, Building Efficiency sales, excluding Global Workplace Solutions (GWS), are expected to be up 9-11% with expectations of modest North America market growth and continued emerging market growth. Excluding the impact of the 2014 acquisition of Air Distribution Technologies (ADT), sales are expected to increase 2-4%.

The company also announced it was confident that the joint venture with Hitachi and the divestiture of its GWS business would both be completed in 2015.

Latest News

28th March 2024

Hudson warns of unsafe US recovery cylinders

USA: The US refrigerant supplier and reclaimer Hudson Technologies has warned of illegal and unsafe recovery cylinders entering the US market.
28th March 2024

Topical talks at Bath breakfast meeting

UK: The next South West South Wales Refrigeration Society breakfast briefing will feature talks from three experienced and knowledgable speakers on varied refrigeration and air conditioning topics.
28th March 2024

CO2 compressor for multiple applications

ITALY: Frascold’s new TK HD series transcritical CO2 compressors are designed for a wide range of refrigeration and air conditioning applications, as well as high-temperature heat pumps up to 100°C.
28th March 2024

Copeland releases 50hp scroll in Asia

CHINA: US compressor manufacturer Copeland is to launch a 50hp scroll for heat pump OEMs in Asia.
27th March 2024

Daikin redesigns Perfera R32 air conditioner

BELGIUM: Daikin Europe has announced a next generation All Seasons Perfera R32 air conditioner with redesigned indoor and outdoor units, making them easy to install and use.
27th March 2024

Press fittings go large

UK: Conex Bänninger has expanded its >B< MaxiPro range of press fittings with the addition of a 1⅝in fitting.