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Johnson Controls to take big stake in Hitachi air conditioning

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(Globalpost/GlobalPost)

US manufacturer Johnson Controls is going to acquire 60 percent of the global air conditioning operations of Japan's Hitachi, the firms said in a statement published Tuesday.

No figure for the value of the transaction was given.

The deal will make Johnson Controls the world leader in air conditioning for businesses, the US company said.

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http://www.globalpost.com/dispatch/news/afp/131203/johnson-controls-take-big-stake-hitachi-air-conditioning