Tuesday, April 14, 2009

Johnson Controls new lithium battery deal

I advertised Johnson Controls (JCI 16.14) at $12.54 on March 27.

It was strong today in a down market, probably because they are opening a lithium-ion battery plant in Holland, MI.

JCI will have $100 million of incentives, and another $48 million from Michigan state incentives.

The R&D stays in Glendale, WI.

When it pops tomorrow, I'm taking the trade off as there still is a lot of congestion in the high teens that this number needs to work through.

I'll revisit it later.

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