Shares of Johnson Controls (JCI) are surging after the auto-parts maker said it would spin off its automotive interiors business into a joint venture with a Chinese partner, Yanfeng Automotive Trim Systems. Johnson Controls will have a 30% interest in the new entity, which has yet to be named and will be the world’s largest producer of door panels, plastic parts and other car interior components.

Rival auto-parts makers are rallying on word of the deal, driving Gentherm and Standard Motor Products to all-time highs:

Auto Parts Makers Drive Higher

Ticker

Auto Parts

Last

Change

% Chg

Market Cap

(JCI)

Johnson Controls, Inc.

46.40

1.62

3.62%

$30,850.14

(TOWR)

Tower International, Inc.

28.91

0.89

3.18%

$592.54

(SUP)

Superior Industries International, Inc.

20.12

0.52

2.65%

$540.53

(THRM)

Gentherm Inc.

40.78

0.99

2.49%

$1,441.98

(MOD)

Modine Manufacturing Company

16.17

0.40

2.54%

$769.80

(TRW)

TRW Automotive Holdings Corp.

80.89

1.50

1.88%

$8,925.11

(DAN)

Dana Holding Corporation

21.30

0.35

1.67%

$3,318.55

(FDML)

Federal-Mogul Holdings Corp

16.68

0.28

1.71%

$2,505.49

(DLPH)

Delphi Automotive PLC

67.14

1.12

1.69%

$20,251.37

(SPAR)

Spartan Motors, Inc.

4.99

0.06

1.22%

$171.99

(TEN)

Tenneco Inc.

61.18

0.71

1.17%

$3,716.21

(FSYS)

Fuel Systems Solutions, Inc.

9.95

0.11

1.12%

$199.35

(SMP)

Standard Motor Products, Inc.

42.22

0.52

1.25%

$968.26

(REMY)

Remy International, Inc.

23.72

0.24

1.02%

$751.56

(DW)

Drew Industries Incorporated

47.84

0.47

0.99%

$1,124.59

(AXL)

American Axle & Manufacturing

17.92

0.16

0.90%

$1,349.36

(ALSN)

Allison Transmission Holdings, Inc.

29.61

0.24

0.82%

$5,359.64

(GNTX)

Gentex Corporation

29.03

0.24

0.83%

$4,245.98

(LEA)

Lear Corporation

85.15

0.59

0.70%

$6,907.20

(BWA)

BorgWarner Inc.

60.07

0.35

0.59%

$13,719.63

(GT)

Goodyear Tire & Rubber Company

24.82

0.15

0.61%

$6,150.53