BorgWarner Board Approves $120 Million in New Growth Investments for Technical Center in China, Operations in Mexico and Poland
25 Juillet 2007 - 10:13PM
PR Newswire (US)
AUBURN HILLS, Mich., July 25 /PRNewswire-FirstCall/ -- The Board of
Directors of BorgWarner Inc. today approved $120 million in key
investments for the continued growth of the powertrain technology
supplier. These investments include a new Technical Center in
China, a new production campus for the Drivetrain Group in Mexico
and a production facility for turbochargers to be located in
Poland. The spending for these projects will occur over the next
four years. "This is an exciting time for BorgWarner as our growth
around the world is propelled by the need for vehicle fuel
efficiency and improved air quality," said Tim Manganello,
BorgWarner Chairman and CEO. "These growth projects are evidence of
the momentum we are gaining as our innovative engine and drivetrain
technologies like turbochargers and dual-clutch transmission
modules lead the market in delivering benefits for drivers and the
environment." China Technical Center: The China Technical Center
will support BorgWarner's accelerating growth in Asia. All of
BorgWarner's products are expected to experience rapid growth as
Chinese automakers vie for market share and global acceptance. The
proposed four-story, 286,000 square foot (26,000 square meters)
China facility will be part of BorgWarner's network of global
technical centers. The center will house engine and drivetrain
product research and development, application engineering and
administration. Product development will support the needs of
Chinese vehicle makers as well as support other global and regional
customers. The company expects to invest $35 million in the project
which is anticipated to house over 300 people by 2012. Drivetrain
Campus in Mexico: The new Drivetrain Campus in Mexico will support
the company's first North American program for dual-clutch
transmission modules as well as other transmission and all-wheel
drive business. The plant is expected to produce some 680,000
dual-clutch transmission modules annually at full production
volumes. The introduction of dual-clutch transmission technology by
a North American automaker is an important milestone in
BorgWarner's globalization of this fuel-efficient, fun-to-drive
technology. BorgWarner established its industry-leading position in
Europe in 2003 with dual-clutch programs for VW/Audi, and in 2006
was awarded the first dual-clutch program in China with SAIC. The
BorgWarner Drivetrain Group is expected to build the 260,000 square
foot (24,000 square meter) facility in Saltillo, Mexico with an
initial investment of $67 million. The plant is expected to employ
several hundred people at full ramp-up. Turbocharger Operation in
Poland: The demand for fuel-efficient, turbocharged engines, both
diesel and gasoline, is driving the growth of BorgWarner's
turbocharger business around the world. Additional capacity is
needed to keep pace with the continued growth in demand for these
engine technologies in Europe. Turbocharged diesel engine
production is expected to grow almost 20% in Europe from about 7.6
million units today to 9.1 million units in 2011. Over the same
period, the European turbocharged gasoline engine market is
anticipated to double from about 0.9 million units to 2 million
units. The $18 million facility in Rzeszow, Poland is expected to
have capacity to make 500,000 turbochargers per year. Auburn Hills,
Michigan-based BorgWarner Inc. (NYSE:BWA) is a product leader in
highly engineered components and systems for vehicle powertrain
applications worldwide. The FORTUNE 500 company operates
manufacturing and technical facilities in 64 locations in 17
countries. Customers include VW/Audi, DaimlerChrysler, Ford,
General Motors, Toyota, Renault/Nissan, Hyundai/Kia, Honda, BMW,
Caterpillar, Navistar International, and Peugeot. The Internet
address for BorgWarner is: http://www.borgwarner.com/. 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 filed annual report on Form
10-K. The Company does not undertake any obligation to update any
forward-looking statement. DATASOURCE: BorgWarner Inc. CONTACT:
Mary Brevard, BorgWarner Inc., +1-248-754-0881 Web site:
http://www.borgwarner.com/
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