Tired Of Inferior Interior Returns, Johnson Controls Spins Interiors Business Into Chinese Joint Venture

Earlier this year, we mentioned analyst rumblings that Jonhson Controls(JCI) ought to spin off its automotive seating business. Now, the company has decided to undertake a major move, but not the one suggested. Johnson will be spinning off its auto interiors business into a joint venture with a subsidiary of Chinese auto maker SAIC. Johnson will own 30%…