31st
January 2008 -
BorgWarner Wins 2007 Global
Automotive Shareholder Value Award
Shareholder Value
Rises 65% in 2007
Achieving a 65% increase in shareholder
value earned BorgWarner a 2007 Global Shareholder Value Award from
Automotive News and PricewaterhouseCoopers. It was the highest total
shareholder return over a one-year period among public global automotive
parts suppliers in 2007.
"BorgWarner continues
to deliver strong performance during a time of transition and
globalization in our industry," said Tim Manganello, BorgWarner Chairman
and CEO. "As demand for our fuel-efficient products continues to
increase, investors recognize the company's value. We believe the
strategies we have in place will allow us to produce sustainable growth
and continue to outpace the global auto industry."
The award is based on the performance of
a $100 investment in a company's stock (including stock appreciation and
reinvestment of dividends) compared with the PricewaterhouseCoopers
Automotive Shareholder Value Index. BorgWarner's performance represents
a 65% increase. The supplier group on average delivered a 7%
improvement.
The award presentation noted that
"BorgWarner has leveraged its broad customer base; increased sales in
growing Asian markets faster than other U.S.-based competitors; and
expanded manufacturing facilities in Korea, Germany, France, China and
Hungary in 2007. The company has also aggressively focused its product
portfolio on high-tech, high-margin components, including many that help
automakers meet tightening emissions and fuel economy regulations."
Auburn Hills, Michigan-based BorgWarner
Inc. 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 VW/Audi, Ford, Toyota, Renault/Nissan,
General Motors, Hyundai/Kia, Daimler, Chrysler, Fiat, BMW, Honda, John
Deere, PSA, and MAN. The Internet address for BorgWarner is:
www.borgwarner.com
Source: BorgWarner Press
Release