AUBURN HILLS, Mich.,
Feb. 14, 2019 /PRNewswire/
-- BorgWarner Inc. (NYSE: BWA), a global leader in clean and
efficient technology solutions for combustion, hybrid and electric
vehicles, today announced its three-year net new business backlog
of $2.0 billion to $2.4 billion.
Three-Year Net New Business Backlog
The company
expects its net new business backlog to drive organic growth over
the company's estimated light vehicle market exposure of 5.0% -
6.0% for 2019 through 2021:
- Net new business within a range of $430
million to $580 million in
2019, $750 million to $875 million in 2020 and $800 million to $950
million in 2021.
- Asia, the Americas and
Europe are expected to account for
approximately 60%, 25% and 15%, respectively, of the total net new
business backlog over the three-year period.
-
- Approximately 50% is expected in China.
- The net new business backlog represents growth across all
propulsion categories with combustion, hybrid and electric vehicles
expected to account for approximately 20%, 70% and 10%,
respectively, of the total net new business backlog over the
three-year period.
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 68 locations in 19 countries, the
company employs approximately 30,000 worldwide. For more
information, please visit borgwarner.com.
Statements in this press release may contain forward-looking
statements as contemplated by the 1995 Private Securities
Litigation Reform Act that are based on management's current
outlook, expectations, estimates and projections. Words such as
"anticipates," "believes," "continues," "could," "designed,"
"effect," "estimates," "evaluates," "expects," "forecasts," "goal,"
"guidance," "initiative," "intends," "may," "outlook," "plans,"
"potential," "predicts," "project," "pursue," "seek," "should,"
"target," "when," "will," "would," variations of such words and
similar expressions are intended to identify such forward-looking
statements.
Statements in this press release rely on assumptions in our
three year net new business backlog. Our three year net new
business backlog reflects anticipated net new business from
formally awarded new programs less lost and discontinued programs.
The calculation of the three year net new business backlog does not
reflect customer price reductions on existing or newly awarded
programs. The three year net new business backlog may be impacted
by various assumptions embedded in the calculation, including
vehicle production levels on new programs, foreign exchange rates
and the timing of major program launches.
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. These risks and uncertainties, among
others, include: our dependence on automotive and truck production,
both of which are highly cyclical; our reliance on major OEM
customers; commodities availability and pricing; supply
disruptions; fluctuations in interest rates and foreign currency
exchange rates; availability of credit; our dependence on key
management; our dependence on information systems; the uncertainty
of the global economic environment; the outcome of existing or any
future legal proceedings, including litigation with respect to
various claims; and future changes in laws and regulations,
including by way of example, tariffs, in the countries in which we
operate, as well as other risks noted in reports that we file with
the Securities and Exchange Commission, including the Risk Factors
identified in our most recently filed Annual Report on Form 10-K/A.
We do not undertake any obligation to update or announce publicly
any updates to or revision to any of the forward-looking
statements.
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SOURCE BorgWarner Inc.