Auto News 5

Vehicle interior and battery specialist Johnson Controls on Friday said it would book an additional pre-tax restructuring charge of US$200-$215m for its fiscal 2009 second quarter but expected a return to profitability in its third and fourth quarters with its interiors business expected to break even by the end of the fiscal year. The restructuring includes unspecified workforce reductions and the closure of 10 manufacturing plants expected to be completed in 2010 with a planned payback of 1.5 years. Full story...