BorgWarner Holds 69.42% of Beru Shares
15 Février 2005 - 7:00AM
PR Newswire (US)
BorgWarner Holds 69.42% of Beru Shares AUBURN HILLS, Mich., Feb. 15
/PRNewswire-FirstCall/ -- BorgWarner Inc. (NYSE:BWA) announced
today that, through BorgWarner Germany GmbH, it holds a total of
69.42% of the outstanding shares of Beru AG after the completion of
the additional tender offer period in Germany on February 10, 2005.
Headquartered in Ludwigsburg, Germany, Beru AG is a leading global
automotive supplier and manufacturer of diesel cold starting
technology (glow plugs and instant starting systems); gasoline
ignition technology (spark plugs and ignition coils); and
electronic and sensor technology (tire pressure sensors, diesel
cabin heaters and selected sensors.) Beru's major customers
include, among others, BMW, DCX, GM/Fiat, VW/Audi, Ford, Porsche,
PSA, Renault, Isuzu, Siemens VDO, Valeo, Deutz, and MAN. Beru
employs approximately 2,700 employees. BorgWarner Inc. (NYSE:BWA)
is a product leader in highly engineered components and systems for
vehicle powertrain applications worldwide. The company operates
manufacturing and technical facilities in 61 locations in 17
countries. Customers include Ford, DaimlerChrysler, General Motors,
Toyota, Honda, Hyundai/Kia, Caterpillar, Navistar International,
Renault/Nissan, Peugeot, VW/Audi and BMW. Additional Information
BorgWarner Germany GmbH, a wholly-owned subsidiary of BorgWarner
Inc. (the "Company"), has completed, in accordance with German law,
a public tender offer (the "Tender Offer") for all of Beru AG's
remaining outstanding stock. This Tender Offer was not made
directly or indirectly in or into the United States, or by use of
the mails of, or by any means or instrumentality (including,
without limitation, the mail, facsimile transmission, telex or
telephone) of interstate or foreign commerce or any facilities of
any national securities exchange of the United States. The Tender
Offer was not to be accepted by any such use, means,
instrumentality or facility involving or from within the United
States, and United States persons were not to have the Tender Offer
available to them, directly or indirectly, within the United
States. Accordingly, information regarding the Tender Offer was not
meant for publication or distribution in or into the United States
nor did it represent an extension of a tender offer into the United
States. This communication is for information purposes only. It
shall not constitute an offer to purchase, sell or exchange or the
solicitation of an offer to purchase, sell or exchange any
securities of Beru. The distribution of this news release may, in
some countries, be restricted by law or regulation. Accordingly,
persons who come into possession of this document should inform
themselves of and observe these restrictions. Forward-Looking
Statements Statements contained in this news release may contain
forward-looking statements as contemplated by the 1995 Private
Securities Litigation Reform Act that are based on management's
current expectations, estimates and projections. Words such as
"expects," "anticipates," "intends," "plans," "believes,"
"estimates," variations of such words and similar expressions are
intended to identify such forward-looking statements.
Forward-looking statements are subject to risks and uncertainties,
many of which are difficult to predict and generally beyond the
control of the Company, that could cause actual results to differ
materially from those expressed, projected or implied in or by the
forward-looking statements. Such risks and uncertainties include:
fluctuations in domestic or foreign automotive production, the
continued use of outside suppliers by original equipment
manufacturers, fluctuations in demand for vehicles containing the
Company's products, general economic conditions, as well as other
risks detailed in the Company's filings with the Securities and
Exchange Commission, including the Cautionary Statements filed as
Exhibit 99.1 to the Form 10-K for the fiscal year ended December
31, 2003. The Company does not undertake any obligation to update
any forward-looking statement. DATASOURCE: BorgWarner Inc. CONTACT:
Mary Brevard of BorgWarner Inc., +1-248-373-2406; or Ivo Lingnau of
A&B FD (PR for BorgWarner): +49 (0)69 92037 133 Web site:
http://www.bwauto.com/
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