UPDATE 1-Johnson Controls sees restructuring charges

Newswire

(Adds details from release) CHICAGO, June 29 (Reuters) - Johnson Controls Inc. , an auto parts supplier and building heating and cooling systems maker, on Thursday said it would initiate a restructuring in its third quarter, incurring after-tax charges of $130 million to $140 million. Johnson Controls also said it expects to record one-time tax benefits of about $135 million, or 68 cents per share, in its third quarter ending June 30 mainly on the reversal of a German deferred tax asset ...

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