"The explosive growth in China's auto industry provides BorgWarner's advanced engine, transmission and all-wheel-drive technology with a wealth of opportunities to benefit drivers," said Tim Manganello, BorgWarner Chairman and CEO. "In the next five to seven years, we expect our sales in China to grow five to six-fold. We are committed to driving product leadership for our customers and partners in this region." BorgWarner currently has four plants in China and a regional office in Shanghai.
Founded in 1985, the International Automobile & Manufacturing Technology Exhibition (Auto Shanghai 2007) is held every two years. Organizers expect over 1,500 exhibitors from 30 countries and 400,000 visitors to attend this year's event, which will feature a wide range of exhibits including passenger cars, commercial vehicles, auto parts and accessories as well as design, technology and new product concept displays and seminars.
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 64 locations in 17 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 its most recently filed annual report or Form 10-K. The Company does not undertake any obligation to update any forward-looking statement.
Source: BorgWarner Inc.