Wal-Mart, the world’s largest public corporation by revenue, has recently named Johnson Controls as its sole source provider of its Automotive, Marine, Powersport and Lawn and Garden battery requirements for its stores in the United States and Puerto Rico. Needless to say, this is a very significant and lucrative happening for Johnson Controls.
“It’s a substantial order, and it’s the largest single order that’s even available in the marketplace,” said Alex Molinaroli, president of the Johnson Controls power solutions. “This is a big deal. When you think about our employees here and having a win like this at a time when no market’s really growing, this is great.”
Johnson Controls has been a Wal-Mart supplier for more than 25 years and also received Wal-Mart’s Supplier of the Year for Automotive this past year. They were also the recipients of nearly $300 million in federal grant money last year as part of President Obama’s American Recovery and Reinvestment Act. Johnson Controls shares were up 2%, or 63 cents, at $29.65 when the news broke, and Wal-Mart cited several key factors as part of their decision.
“Johnson Controls’ superior quality, consistent service, partnership in reducing consumer returns, and category leadership were key factors for selecting Johnson Controls as our sole source provider,” said a Wal-Mart representative.
Category: Battery News