Johnson Controls to Explore Options for Separation of Auto Unit

Johnson Controls Inc., once the largest U.S. supplier of auto parts, is considering options for separating its automotive business, the biggest but least profitable of the company’s three units.

A joint venture, a sale and a spinoff are among the possibilities, Chief Executive Officer Alex Molinaroli said on a conference call. The company said Wednesday in a statement that the review doesn’t have a timetable and that it hired Goldman Sachs Group Inc. and Centerview Partners as financial advisers.