BorgWarner Expands Ningbo, China Operation to Supply Engine Products to VW/Audi, Meet Growing Demand for Leading Powertrain Tech
16 Décembre 2004 - 7:00PM
PR Newswire (US)
BorgWarner Expands Ningbo, China Operation to Supply Engine
Products to VW/Audi, Meet Growing Demand for Leading Powertrain
Technology CHICAGO, Dec. 16 /PRNewswire-FirstCall/ -- BorgWarner
has broken ground on a new factory in Ningbo, China for the
assembly of engine products for VW/Audi's gasoline 4-cylinder world
engine. The state-of-the-art manufacturing facility will be the
first of several operations planned for BorgWarner's campus in the
Ningbo Yinzhou industrial zone, all of which will be part of
BorgWarner Automotive Components (Ningbo) Co., Ltd., the company's
newly established wholly foreign-owned enterprise. The building is
expected to be completed in May 2005. "This new facility
constitutes another significant investment in Ningbo, and marks
another important step forward as we continue to advance our growth
strategy for China," said Tim Manganello, BorgWarner Chairman and
CEO. BorgWarner expects that the facility will eventually support
production of engine and drivetrain systems and components for
several local Chinese automakers. "The importance of fuel economy
and air quality is increasing, as more automakers adopt European
emissions standards and need the advanced powertrain technologies
required to meet them," Manganello said. "Growth opportunities in
China, Asia and elsewhere are continuing to multiply in these key
areas. As a global powertrain product leader, BorgWarner is taking
steps to ensure that we are well-positioned to take full advantage
of this growth." In addition to this enterprise, BorgWarner
operates two other joint ventures in China. The first was formed in
1993 to supply transmission products to Beijing Jeep. That business
was restructured in 2000 to focus on four-wheel drive/all-wheel
drive products. A second joint venture, also in Ningbo, was formed
in 1998 for the production of thermal products. The company also
opened an office in Shanghai in November. 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. 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, vehicle stability 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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