BorgWarner Inc. - BWA STOCK NEWS

Atar Capital has successfully acquired BorgWarner's North American Controls (BWNAC) business, marking a significant carve-out in the automotive sector. BWNAC, based in Detroit, is a leading supplier of transmission solenoids and hydraulic control modules throughout North America. With this acquisition, Atar plans to focus on growth and diversification, leveraging established relationships with major automotive OEMs like Cummins and Ford. Industry veteran Ramzi Hermiz has been appointed interim CEO as the company transitions to a standalone entity.

BorgWarner has completed the sale of its Water Valley, Mississippi facility to Atar Capital as part of its Project Charging Forward, aiming to divest $3-$4 billion in revenues from its combustion portfolio by 2025. This facility generated approximately $180 million in sales for 2021. The total consideration for the sale amounts to $42 million in cash and notes, with potential earn-out payments of up to $30 million. While the company anticipates incurring a non-material GAAP loss from the sale, this move aligns with BorgWarner’s electrification strategy.

BorgWarner has signed an exclusive licensing agreement with PolyCharge America, securing rights to utilize their NanoLam™ capacitor technology in its inverters. This agreement enables BorgWarner to enhance its inverter offerings by integrating capacitors that are smaller, lighter, and capable of withstanding high temperatures. The NanoLam™ technology, utilizing super-thin polymer dielectric layers, reduces capacitor size and weight by 50% compared to traditional options, thereby increasing energy density and efficiency in high-power applications. This move aligns with BorgWarner's electrification strategy.

BorgWarner, a leader in sustainable mobility solutions, has joined the Clean Energy Buyers Alliance (CEBA) as a "large energy buyer" member, reinforcing its commitment to environmental sustainability. This membership, effective Oct. 1, 2021, provides BorgWarner access to resources and collaboration opportunities with industry leaders. Dr. Volker Weng emphasized the importance of CEBA's community in the transition to clean energy and the goal of carbon neutrality in operations by 2035. CEBA, comprising over 270 members, aims to catalyze renewable energy projects and support large-scale energy buyers.

TROY, Mich., Nov. 29, 2021 /PRNewswire/ -- BetterInvesting Magazine has named McDonald's Corporation (MCD) as its "Stock to Study" and BorgWarner, Inc. (BWA) as its "Undervalued Stock" for January 2022. The announcement emphasizes the importance of long-term investing, especially amid pandemic uncertainties. CEO Ken Zendel stresses the need for thorough analysis of portfolios for informed investment decisions. BetterInvesting encourages the use of its Stock Selection Guide for evaluating investment potential. More insights can be found in the January issue of BetterInvesting Magazine.

BorgWarner Thermal Systems has received an $11.2 million grant to enhance its electric vehicle business in Cadillac, Michigan. The investment includes a $225,000 performance-based grant from the Michigan Economic Development Corporation and will create up to 30 jobs. The Cadillac facility will produce high-voltage coolant heaters (HVCH) crucial for vehicle efficiency in hybrid and electric models, reinforcing Michigan's leadership in advanced manufacturing and electric vehicle innovation.

BorgWarner Inc. (NYSE: BWA) announced a quarterly cash dividend of $0.17 per share, effective December 15, 2021, for stockholders of record on December 1, 2021. The company, a leader in sustainable mobility solutions, operates in 96 locations across 22 countries with approximately 50,000 employees. This dividend declaration reflects the company's commitment to returning value to shareholders while reinforcing its position in the global automotive market.