BWA BorgWarner Inc

Modine Manufacturing Company (NYSE:MOD), a world leader in solving thermal challenges for diversified markets, today announced that it has entered into a collaborative relationship with BorgWarner Inc. (NYSE:BWA) to develop thermal management solutions for the global Truck and Off-Highway markets. Modine and BorgWarner have begun initial development work on various customer projects, including Modine's recently announced long-term contract with two of DaimlerChrysler's top divisions, The Freightliner Group in North America and Mercedes-Benz Truck in Europe. "This collaboration enables Modine to continue to focus on what we do best, developing the heat exchangers and thermal systems, while BorgWarner will work on its core competency in air flow management systems and powertrain applications," said Klaus Feldmann, Modine Europe Group Vice President. "But together we are able to develop the total thermal package for commercial vehicle and engine applications. Together, we bring synergies to our customers that neither company can offer alone." "This is an immediate benefit for our OE customers, because it gives them two strong partners who are working together to solve their needs," said Alfred Weber, President of the Emissions/Thermal Systems Division of BorgWarner. "The market has a need for this cooperation between Modine and BorgWarner, a relationship that makes us both more effective." "This relationship is very beneficial to both companies in expanding our global customer platform capabilities," said Charles Katzfey, Modine Group Vice President. "It allows us to offer total thermal management systems and also address advanced thermal system technologies for future market needs." Both companies have similar global footprints with a combined 102 manufacturing facilities in North America, South America, Europe and Asia. Modine, with record fiscal 2005 revenues and operating cash flow of $1.5 billion and $156 million, respectively, specializes in thermal management systems and components, bringing highly engineered heating and cooling technology and solutions to diversified global markets. Modine products are used in light, medium and heavy-duty vehicles, HVAC (heating, ventilating, air conditioning) equipment, industrial equipment, refrigeration systems, fuel cells, and electronics. The Company employs 8,200 people at 35 facilities worldwide. For more information about Modine, visit www.modine.com. BorgWarner Inc. of Auburn Hills, Michigan is a product leader in highly engineered components and systems for vehicle powertrain applications worldwide. The company operates manufacturing and technical facilities in 62 locations in 17 countries. Customers include Ford, DaimlerChrysler, General Motors, VW/Audi, Toyota, Hyundai/Kia, Renault/Nissan, Honda, Caterpillar, Navistar International, Peugeot, and BMW. The internet address for BorgWarner is www.borgwarner.com. This news release contains statements, including information about future financial performance, accompanied by phrases such as "believes," "estimates," "expects," "plans," "anticipates," "will," "intends," and other similar "forward-looking" statements, as defined in the Private Securities Litigation Reform Act of 1995. Modine's actual results, performance or achievements may differ materially from those expressed or implied in these statements, because of certain risks and uncertainties, which are identified on page 36 of the Company's 2005 Annual Report to Shareholders and other recent Company filings with the Securities and Exchange Commission. Specifically, this news release contains forward-looking statements regarding the benefits of a collaborative relationship. These forward-looking statements are particularly subject to a number of risks and uncertainties, including the ability of the companies to obtain the desired benefits of their collaboration, as well as overall market acceptance and demand for new products and technologies. Modine does not assume any obligation to update any of these forward-looking statements.