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AUBURN HILLS, Mich.,
Nov. 6, 2012 /PRNewswire/ -- BorgWarner Inc. (NYSE: BWA) today announced
$2.3 billion of expected net new powertrain business for 2013 through 2015. Demand for the company's advanced powertrain technologies, such as gasoline and diesel turbochargers, dual-clutch transmission technology, engine timing systems and emissions products, is expected to continue to drive strong growth.
BorgWarner is a leading provider of highly engineered engine and drivetrain components and systems that help improve fuel efficiency, emissions and vehicle performance. The company's new business is sourced around the globe and includes programs with nearly every major automaker in the world.
"Improving fuel economy, lowering emissions and enhancing the driving experience are increasingly important strategic initiatives for automakers around the world," said
Timothy M. Manganello, Chairman and Chief Executive Officer. "BorgWarner is uniquely positioned among vehicle suppliers to deliver powertrain technologies that help automakers meet these objectives. We believe our fuel-efficient technologies will be in high demand as the industry continues to implement advanced powertrain strategies."
Of the total new business, approximately 80% is anticipated from engine-related products such as turbochargers, ignition systems, emissions products, engine timing systems, variable cam timing modules and thermal systems. The remaining approximate 20% is expected from drivetrain-related products including the company's fuel-efficient DualTronic
® transmission technology and its traditional automatic transmission and all-wheel drive technologies.
"We have outpaced the growth of the industry by developing fuel-efficient technologies that meet the needs of the global market," Manganello continued. "We expect this trend to continue. The European market accounts for 30% of our expected new business compared with 45% in the previous three-year net new business.
Europe remains a leader in the adoption of new powertrain technology, however the general economic slowdown in the region has reset volume expectations in that market. New business sales in
Asia are expected to account for about 50% of the total by the end of the period compared with 35% in the previous three-year net new business. Approximately 32% of our expected new business is in
China as our sales to the world's fastest growing market continue to accelerate. The top twenty-five customers of our three-year net new business include seven Chinese domestic original equipment manufacturers ("OEMs"). Approximately 20% of the anticipated new business over the three years is in the Americas including 11% with the North American domestic OEMs."
"Tightening emissions standards and a sharpened focus on fuel economy in the commercial vehicle market is expected to provide additional growth for BorgWarner. The top twenty-five customers of our three-year net new business include six commercial vehicle OEMs. Approximately 19% of the expected new business is related to the commercial vehicle market."