BorgWarner Supplies 7 of China's 10 Best Engines
26 January 2007 - 1:45AM
PR Newswire (US)
First 'China Heart' Awards Presented in Beijing AUBURN HILLS,
Mich., Jan. 25 /PRNewswire-FirstCall/ -- Seven of China's ten best
engines are equipped with systems and components from the
BorgWarner (NYSE:BWA) Engine Group, including: * Civic 1.8L from
Dongfeng Honda * Mazda 6 Wagon 2.3L from China First Automobile
Works (FAW) * Teana 3.5L from Dongfeng Nissan * BMW 530i from
Brilliance BMW * Sagitar 1.8T from FAW-VW * Audi A6L 2.0T from
FAW-VW * Oriental Son 2.0L from Chery Timing chain systems, oil
pumps, air pumps, water pumps and turbochargers are some of the
technologies BorgWarner produces for these notable engines.
Sponsored by Auto Sports magazine, a publication of China
Automotive News, China Heart is the first and only engine
evaluation program in China. Thirty- six engines were assessed by a
panel of judges which included researchers from Chinese institutes.
All ten award-winning engines are produced in China.
"Congratulations to our winning customers. We are honored to supply
systems and components for these respected engines," said Tim
Manganello, BorgWarner Chairman and CEO. "We believe our technology
in fuel economy, reduced emissions and enhanced performance will
help drive further growth in the Chinese auto industry." As the
world's third largest automotive market, China is currently
experiencing unparalleled growth. Passenger vehicle sales in China
are expected to increase 30% in 2006 according to estimates by
Citigroup Research. As a result, global and domestic automakers
plan to double passenger-vehicle manufacturing capacity to 10
million units by 2010. Endeavoring to build their domestic base,
Chinese automakers are also launching new competitive brands,
especially in the luxury vehicle segment. As China's automotive
industry grows, the government is pressuring auto makers to find
solutions to the oil crisis while addressing environmental
concerns. BorgWarner's technology is specifically aimed at
improving fuel economy and reducing emissions to meet this
increasing demand. Auburn Hills, Michigan-based BorgWarner Inc.
(NYSE:BWA) is a product leader in highly engineered components and
systems for vehicle powertrain applications worldwide. The FORTUNE
500 company operates manufacturing and technical facilities in 63
locations in 18 countries. Customers include Ford, VW/Audi,
DaimlerChrysler, General Motors, Toyota, Renault/Nissan,
Hyundai/Kia, Honda, BMW, Caterpillar, Navistar International, and
Peugeot. The Internet address for BorgWarner is:
http://www.borgwarner.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 Risk Factors identified in the
Form 10-K for the fiscal year ended December 31, 2005. The Company
does not undertake any obligation to update any forward-looking
statement. DATASOURCE: BorgWarner Inc. CONTACT: Mary Brevard,
+1-248-754-0881, or Dave Peterson, +1-248-754-0883, both of
BorgWarner Inc. Web site: http://www.borgwarner.com/
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