Merger of Tyco and Johnson Controls in Cork to deliver $150m of tax savings

The controversial merger of Tyco and Johnson Controls will yield significant benefits for the newly combined company in Cork when the deal completes later this year, its head of its Irish operations says.

The so-called ‘inversion’ deal, which the companies predicted would deliver at least $150m of tax savings each year and $500m in costs over the initial three years, drew the ire of US politicians last week and put a renewed focus on Ireland’s corporate tax regime.

Tyco Ireland’s general manager Donal Sullivan predicted the move would work out favourably for its Irish operations.