07.03.201306:58:49UTC+00Johnson Controls explores auto electronics unit sale

Johnson Control is exploring a potential sale of its automotive electronics unit, but has no intention of selling its automotive interiors business, the company said on Wednesday.

Sources said that the diversified conglomerate was looking to sell its automotive interiors division. Two of them later corrected the statement, saying they were referring to the electronics part of the automotive interiors and electronics segment, which accounts for a quarter of the division's sales.

Johnson Controls, the largest U.S. auto supplier with 2012 sales of more than $4 billion in car interiors, has grappled with industry-wide pressure on margins, low vehicle production in Europe and increased competition from China. A successful sale of the electronics unit would leave JCI with the interiors unit as well as three other major businesses: automotive seating, building controls and car batteries.