RENEE MONTAGNE, HOST:
NPR's business news begins with Chinese-American cooperation.
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MONTAGNE: An industrial conglomerate, Johnson Controls, based in Milwaukee, announced yesterday that it will spin off its automotive interiors business in order to create a joint venture with a Chinese company. That partnership with Yanfeng Automotive Trim Systems will create the world's biggest car interiors company in the world - making items like instrument panels, door panels and floor consoles for various carmakers.
The new joint venture will be based in Shanghai but it will maintain operations in the U.S. as well. Transcript provided by NPR, Copyright NPR.