BorgWarner Expects $1.8 Billion of Net New Business for 2010-2012
09 Novembre 2009 - 3:00PM
PR Newswire (US)
GAS TURBOCHARGERS AND DUAL-CLUTCH TECHNOLOGY LEAD DOUBLE-DIGIT
ANNUAL GROWTH OVER THE NEXT THREE YEARS AUBURN HILLS, Mich., Nov. 9
/PRNewswire-FirstCall/ -- BorgWarner Inc. (NYSE:BWA) announced
today $1.8 billion of expected net new powertrain business for 2010
through 2012, driving a growth rate that exceeds the overall auto
industry. Increasing demand for the company's efficient and
environmentally friendly technologies, such as gasoline and diesel
turbochargers and dual-clutch transmissions, has validated
BorgWarner's strategic focus on advanced technologies that reduce
emissions, increase fuel economy and improve performance. Over the
three-year period, BorgWarner expects to launch 80% of its new
programs in Asia and Europe. "Despite the historic change in the
automotive industry over the last eighteen months, the emphasis on
lowering emissions and improving fuel economy has remained
constant," said Timothy M. Manganello, Chairman and Chief Executive
Officer. "While the contraction in the industry has reset global
market volume expectations, our portfolio of powertrain
technologies continues to drive industry-leading growth."
BorgWarner's engine and drivetrain technologies are designed for a
variety of powertrains, from gasoline and clean diesel engines to
hybrid- and all electric-powered vehicles. Of BorgWarner's total
new business, 80% is anticipated from engine-related products such
as turbochargers, ignition systems, emissions products, engine
timing systems, variable cam timing modules and thermal systems.
The other 20% is expected in drivetrain-related products including
the company's fuel-efficient DualTronic® transmission technology
and its traditional automatic transmission and all-wheel drive
technologies. "BorgWarner has outpaced the growth of the industry
by developing technologies that companies and consumers want and
launching products with customers in those regions of the world
that are adopting fuel-efficient technologies," Manganello
continued. "The European market remains the leader in new
powertrain technology and Europe accounts for 50% of our expected
new business. As our expansion in Asia continues, we foresee new
business sales in the region will account for about 30% of the
total by the end of 2012. China represents more than half of that
new business. North America is about 20% of BorgWarner's
anticipated new business over the three years and includes new
domestic engine programs aimed at improving fuel efficiency."
Turbochargers for advanced diesel and gasoline direct injected
(GDI) engines account for about 35% of BorgWarner's new business
with GDI programs representing a larger share compared with last
year. This shift reflects the growing importance of GDI engines to
address the issues of fuel efficiency and emissions reductions. The
market for turbocharged GDI engines is expected to more than double
over the next three years, from about two million, five hundred
thousand units today to over six million by 2012. Europe will
remain the largest market for gasoline turbochargers but North
America will be the fastest growing geography. Another 13% of
BorgWarner's new business is tied to the company's dual-clutch
technology. The technology provides the fuel-efficiency and
fun-to-drive characteristics of a manual transmission with the
convenience and smooth shifting of an automatic. The number of
dual-clutch transmissions in the market is expected to grow to
nearly five million units by 2014. At 10:00 a.m. ET today, a brief
conference call concerning third quarter results and new business
will be webcast at:
http://www.borgwarner.com/invest/webcasts.shtml. 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 60 locations in 18
countries. Customers include VW/Audi, Ford, Toyota, Renault/Nissan,
General Motors, Hyundai/Kia, Daimler, Chrysler, Fiat, BMW, Honda,
John Deere, PSA, and MAN. The Internet address for BorgWarner is:
http://www.borgwarner.com/. Additional Important Information
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
"outlook," "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 our control, 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 vehicle production, the
continued use of outside suppliers, fluctuations in demand for
vehicles containing our products, changes in general economic
conditions, and other risks detailed in our filings with the
Securities and Exchange Commission, including the Risk Factors,
identified in our most recently filed Annual Report on Form 10-K.
We do not undertake any obligation to update any forward-looking
statements. DATASOURCE: BorgWarner Inc. CONTACT: Ken Lamb of
BorgWarner Inc., +1-248-754-0884 Web Site:
http://www.borgwarner.com/
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