BWA BorgWarner Inc

BorgWarner Expands China Presence With New Shanghai Office CHICAGO, Dec. 14 /PRNewswire-FirstCall/ -- Reflecting the significance of China to the company's global growth strategy, BorgWarner Inc. announced today the opening of an office in Shanghai. The 800-square-meter office is in the Shanghai Maxdo Center, located in the Hongqiao area. Employees include representatives of BorgWarner's five business units and corporate staff. Freeman Shen will oversee the Shanghai office. Shen was recently named Country Manager - BorgWarner China and previously served as Director of Operations - Asia for BorgWarner Emissions/Thermal Systems in Ningbo, China. "The Shanghai operation represents a new level of collaboration between the global BorgWarner business units, and is tangible evidence of the importance of China to our growth plans," said Tim Manganello, BorgWarner Chairman and CEO. BorgWarner entered China in 1993 with a joint venture to supply transmission products to Beijing Jeep. That business was restructured in 2000 to focus on four-wheel drive/all-wheel drive products. BorgWarner Emissions/Thermal Systems operates a joint venture in Ningbo, which was formed in 1998 for the production of thermal products. The company's plans for China include expansion of several of its engine and drivetrain systems businesses. Current customers in China include FAW, Dongfeng, Shanghai VW, FAW VW, Chang'an Ford, Beijing Foton, Great Wall, Chery, Jeely, Yulin Diesel, Beijing Jeep, Nanjing Iveco, Weifang Diesel, Shanghai General Motors, China Brilliance, Zhengzhou Nissan, Shanghai Hino, Dongfeng Cummins, and Chongqing Cummins. "As more automakers adopt European emissions standards and want the most advanced powertrain technologies, opportunities in China and Asia continue to multiply for product leaders like BorgWarner," Manganello said. "We are increasingly well-positioned to take full advantage of these opportunities. I congratulate the team that worked hard to reach this milestone in our global expansion strategy, and look forward to additional achievements at this exciting time of growth for our company." BorgWarner recently announced $1.4 billion in expected new business between 2005-07, 20% of which is expected in Asia. The company anticipates that Asia will account for 14% of its global sales by 2006, driven by customer needs in fuel efficiency, emissions reduction, comfort and convenience and demand for advanced technology. BorgWarner Inc. (NYSE:BWA) is a product leader in highly engineered components and systems for vehicle powertrain applications worldwide. The company operates manufacturing and technical facilities in 43 locations in 14 countries. Customers include Ford, DaimlerChrysler, General Motors, Toyota, Honda, Hyundai/Kia, Caterpillar, Navistar International, Renault/Nissan, Peugeot and VW/Audi. Visit the BorgWarner website at http://www.bwauto.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 risks detailed in the Company's filings with the Securities and Exchange Commission, including the Cautionary Statements filed as Exhibit 99.1 to the Form 10-K for the fiscal year ended December 31, 2003. The company does not undertake any obligation to update any forward-looking statement. DATASOURCE: BorgWarner Inc. CONTACT: Beth Feikens of BorgWarner Inc., +1-248-373-7962 Web site: http://www.bwauto.com/

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