Home Industries Banking & Finance Some Tyco operations to move to Milwaukee

Some Tyco operations to move to Milwaukee

Future Johnson Controls CEO also will move here

The Glendale headquarters of Johnson Controls.

With the Milwaukee area set to be the operational headquarters for the combined company created by the Johnson Controls-Tyco International merger, the city will benefit from the relocation of some of Tyco’s operations.

The deal announced Monday calls for the combined company to have its global headquarters in Ireland but operational headquarters in the Milwaukee area. Placing the global headquarters in Ireland, where Tyco is based, will save Johnson Controls $150 million a year in taxes.

Johnson Controls HQ
The Johnson Controls headquarters in Glendale.

Johnson Controls spokesman Fraser Engerman said Tuesday the designation of Milwaukee as the operational headquarters means positions related to Tyco’s operational headquarters in Princeton, N.J. would move to Milwaukee. Engerman told BizTimes the company sees the deal “as having a lot of upside for Milwaukee,” although he declined to provided details on how the merger will impact job numbers in the Milwaukee area. The company currently has about 3,400 employees in the Milwaukee area and 130,000 worldwide.

He also said Tyco chief executive officer George Oliver would be relocating to Milwaukee once the deal closes.

The agreement between the two companies calls for Oliver to serve as president and chief operating officer for the first 18 months after the merger with Johnson Controls CEO Alex Molinaroli serving as chairman and CEO. After 18 months, Oliver will become chief executive officer. After another 12 months, he will become chairman and chief executive officer.

Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He also spent five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.
With the Milwaukee area set to be the operational headquarters for the combined company created by the Johnson Controls-Tyco International merger, the city will benefit from the relocation of some of Tyco’s operations. The deal announced Monday calls for the combined company to have its global headquarters in Ireland but operational headquarters in the Milwaukee area. Placing the global headquarters in Ireland, where Tyco is based, will save Johnson Controls $150 million a year in taxes. [caption id="attachment_121450" align="alignright" width="300"] The Johnson Controls headquarters in Glendale.[/caption] Johnson Controls spokesman Fraser Engerman said Tuesday the designation of Milwaukee as the operational headquarters means positions related to Tyco’s operational headquarters in Princeton, N.J. would move to Milwaukee. Engerman told BizTimes the company sees the deal “as having a lot of upside for Milwaukee,” although he declined to provided details on how the merger will impact job numbers in the Milwaukee area. The company currently has about 3,400 employees in the Milwaukee area and 130,000 worldwide. He also said Tyco chief executive officer George Oliver would be relocating to Milwaukee once the deal closes. The agreement between the two companies calls for Oliver to serve as president and chief operating officer for the first 18 months after the merger with Johnson Controls CEO Alex Molinaroli serving as chairman and CEO. After 18 months, Oliver will become chief executive officer. After another 12 months, he will become chairman and chief executive officer.

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