Johnson Controls saw a revenue decrease of around 4% in fiscal year 2015, due mostly to a deconsolidation of the company’s auto interiors business and unfavorable foreign exchange rates. The company is focusing on growth technologies in 2016 and plans to spin off its auto seating and interiors business in October 2016. The new company will be called Advent and will be a completely separate publicly traded company, listed on the NYSE. Furthermore, it also plans to merge with Tyco, a fire and security provider based in Ireland.
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