BorgWarner Says Weaker Euro, Won, Yuan Will Hurt 2022 Sales -- Currency Comment
04 Mai 2022 - 4:08PM
Dow Jones News
By Paulo Trevisani
BorgWarner Inc. said Wednesday it expects a decrease in annual
sales by around $650 million this year due to weakness in the euro,
the Korean won and the Chinese yuan against the U.S. dollar.
Despite the negative FX hit, which is attributed mainly to a
weakening euro, the Auburn Hills, Mich., autoparts supplier said it
expects organic sales to increase 10% to 13% this year.
BorgWarner said its 3% decrease on first quarter sales from a
year earlier to $3.9 billion was "due primarily to the impact of
the decline in industry production and weaker foreign
currencies."
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
May 04, 2022 09:53 ET (13:53 GMT)
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