Johnson Controls Inc. (JCI) signed a share purchase agreement for the acquisition of Michel Thierry, a supplier of fabrics and lamination, with strong R&D and manufacturing capabilities in Europe—primarily in France, Spain, and the Czech Republic—and operations worldwide. Michel Thierry's headquarters and main facility are based in Laroque d'Olmes, France, and the company employs 1700 people. Its product line includes automotive textiles and leather production for seating and interiors. JCI says that this strategic acquisition will position the company as one of the global leaders in textiles and in integrated trim, thus creating opportunities for future business growth. According to the company, its expertise in cut and sew and Michel Thierry's expertise in fabrics meet customers' increasing demand for integrated services—from fabrics to complete seats—on a global scale. The company also anticipates enhanced innovation opportunities and the potential for further quality optimization by covering the entire process chain with early customer involvement. Completion of the acquisition, which is subject to customary regulatory approvals, is expected by the end of November.