AUBURN HILLS, Mich.,
Sept. 28, 2017 /PRNewswire/
-- BorgWarner announced today that it has finalized its
acquisition of Sevcon, Inc. (Sevcon). A global player in
electrification technologies, Sevcon complements BorgWarner's power
electronics capabilities utilized to provide electrified propulsion
solutions. Sevcon's annual sales for 2017 are expected to be
approximately $60 million. The
acquisition is expected to be modestly dilutive to earnings in
2018.
"This acquisition supports our existing strategy to supply
leading technology for all types of propulsion systems; combustion,
hybrid and electric," said James
Verrier, President and CEO of BorgWarner. "We look
forward to welcoming Sevcon's talented employees to
BorgWarner."
BorgWarner announced an agreement to acquire Sevcon on
July 17, 2017, and completed the
acquisition on September 27,
2017.
About BorgWarner
BorgWarner Inc. (NYSE: BWA) is
a global product leader in clean and efficient technology solutions
for combustion, hybrid and electric vehicles. With manufacturing
and technical facilities in 62 locations in 17 countries, the
company employs approximately 27,000 worldwide. For more
information, please visit borgwarner.com.
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SOURCE BorgWarner