AUBURN
HILLS, Mich., Dec. 1, 2023
/PRNewswire/ -- BorgWarner Inc. (NYSE: BWA) announced today
that it has completed its acquisition of the Electric Hybrid
Systems business segment of Eldor Corporation ("Eldor"). The
acquisition is an important complement to the ePropulsion
portfolio, especially as it relates to expansion in high-voltage
power electronics beyond the inverter. "We are pleased to complete
the acquisition and welcome Eldor's talented employees to
BorgWarner," said Frédéric Lissalde, President and CEO of
BorgWarner.
About BorgWarner
For more than 130 years, BorgWarner
has been a transformative global product leader bringing successful
mobility innovation to market. Today, we're accelerating the
world's transition to eMobility — to help build a cleaner,
healthier, safer future for all.
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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,"
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identify such forward-looking statements. Further, all statements,
other than statements of historical fact, contained or incorporated
by reference in this release that we expect or anticipate will or
may occur in the future regarding our financial position, business
strategy and measures to implement that strategy, including changes
to operations, competitive strengths, goals, expansion and growth
of our business and operations, plans, references to future success
and other such matters, are forward-looking statements. Accounting
estimates, such as those described under the heading "Critical
Accounting Policies and Estimates" in Item 7 of our most recently
filed Annual Report on Form 10-K ("Form 10-K"), are inherently
forward-looking. All forward-looking statements are based on
assumptions and analyses made by us in light of our experience and
our perception of historical trends, current conditions and
expected future developments, as well as other factors we believe
are appropriate under the circumstances. Forward-looking statements
are not guarantees of performance, and the Company's actual results
may differ materially from those expressed, projected or implied in
or by the forward-looking statements. You should not place undue
reliance on these forward-looking statements, which speak only as
of the date of this release. 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: supply disruptions impacting
us or our customers, such as the current shortage of semiconductor
chips that has impacted original equipment manufacturer ("OEM")
customers and their suppliers, including us; commodity availability
and pricing, and an inability to achieve expected levels of
recoverability in commercial negotiations with customers concerning
these costs; competitive challenges from existing and new
competitors including OEM customers; the challenges associated with
rapidly changing technologies, particularly as relates to electric
vehicles, and our ability to innovate in response; uncertainties
regarding the extent and duration of impacts of matters associated
with the COVID 19/coronavirus pandemic, including additional
production disruptions; the difficulty in forecasting demand for
electric vehicles and our electric vehicles revenue growth;
potential disruptions in the global economy caused by Russia's invasion of Ukraine; the ability to identify targets and
consummate acquisitions on acceptable terms; failure to realize the
expected benefits of acquisitions on a timely basis; the
possibility that our recently-completed tax-free spin-off
transaction of our former Fuel Systems and Aftermarket segments
into a separate publicly traded company will not achieve its
intended benefits; the failure to promptly and effectively
integrate acquired businesses; the potential for unknown or
inestimable liabilities relating to the acquired businesses; our
dependence on automotive and truck production, both of which are
highly cyclical and subject to disruptions; our reliance on major
OEM customers; fluctuations in interest rates and foreign currency
exchange rates; 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, or governmental investigations,
including related litigation; future changes in laws and
regulations, including, by way of example, taxes and tariffs, in
the countries in which we operate; impacts from any potential
future acquisition or disposition transactions; and the other risks
noted in reports that we file with the Securities and Exchange
Commission, including Item 1A, "Risk Factors" in our most recently
filed Form 10-K and/or Quarterly Report on Form 10-Q. We do not
undertake any obligation to update or announce publicly any updates
to or revisions to any of the forward-looking statements in this
release to reflect any change in our expectations or any change in
events, conditions, circumstances, or assumptions underlying the
statements.
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SOURCE BorgWarner