Welcome to our dedicated page for Borgwarner news (Ticker: BWA), a resource for investors and traders seeking the latest updates and insights on Borgwarner stock.
BorgWarner Inc. reports developments as a global automotive supplier serving original equipment manufacturers with turbo and thermal management technologies, drivetrain systems, powerdrive systems, and battery and charging systems. Company updates commonly cover OEM program awards for passenger cars, vans, commercial vehicles and off-highway applications, including variable turbine geometry turbochargers, exhaust gas recirculation coolers, controllers and battery management systems.
Recurring news also includes quarterly earnings, shareholder returns, sustainability recognition and BorgWarner's long-running Indianapolis 500 trophy programs. The company's disclosures reflect a supplier portfolio spanning combustion vehicle technologies and electrified mobility components across major automotive markets.
BorgWarner's Supply Chain Manager, Kelly Zhu, has received the Women in Manufacturing STEP Ahead Award for exceptional leadership, marking her as one of 100 honored women this year. Zhu's career at BorgWarner began in Ningbo, China, where she progressed from a warehouse supervisor to her current managerial role. Over the years, she has taken on increasing responsibilities and actively participates in training programs to foster employee development. Zhu is also involved in a Junior Achievement program to inspire youth in business and manufacturing. The recognition ceremony occurred on September 24, 2020.
BorgWarner has enhanced its market presence by supplying the B01 turbocharger for the newly launched Volkswagen Nivus crossover. The vehicle's engine, featuring advanced turbo technology, offers an optimal combination of performance, fuel efficiency, and lower emissions tailored for the Brazilian market. With a 1.0-liter EA211 engine producing 126 horsepower and 147 lb-ft of torque, the B01 turbocharger supports a compact design and improved operational efficiency, promising better performance for consumers.
BorgWarner (BWA) announced that as of September 16, 2020, approximately 95.39% of the outstanding 5.00% Senior Notes due 2025 from Delphi Technologies were tendered in a private exchange offer. This equates to $763.1 million of the total $800 million. The transaction allows BorgWarner to adopt amendments to the notes' indenture, subject to conditions including the completion of its acquisition of Delphi Technologies, expected to close around October 5, 2020. The exchange offer expires on October 1, 2020.
BorgWarner has announced the supply of its advanced variable turbine geometry (VTG) turbocharger to a global OEM, enhancing its role in clean propulsion solutions. This contract supports multiple vehicle models and reinforces existing business with the OEM. The VTG turbocharger improves power output, reduces emissions, and withstands high exhaust gas temperatures, making it suitable for modern hybrid and combustion engines. BorgWarner's commitment to innovative technologies aims to meet future emissions regulations and enhance fuel efficiency.
BorgWarner partners with Plug and Play to establish an incubator in Detroit aimed at supporting startup companies in the automotive and tech sectors. This collaboration enhances access to resources and funding for emerging innovators while aligning with BorgWarner's commitment to technology advancement and diversity through the Michigan Minority Supplier Development Council's AmplifyD initiative. With prior ties to Plug and Play in Silicon Valley, this move positions BorgWarner as a crucial player in fostering the next generation of mobility technologies.
BorgWarner (NYSE: BWA) announced a private exchange offer and consent solicitation for Delphi Technologies' 5.00% Senior Notes due 2025, as part of its ongoing acquisition effort. BorgWarner aims to exchange approximately $800 million in outstanding notes for new notes at a rate of $1,000 for each $1,000 in senior notes tendered. Eligible noteholders can receive cash consideration of $1 for each $1,000 in notes. The exchange offer is set to expire on October 1, 2020, with an early tender deadline of September 16, 2020. The transaction's completion remains contingent on regulatory approvals.
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BorgWarner announced the supply of its exhaust gas recirculation (EGR) technology for the Fiat 500 and Panda hybrid models. This marks their first gasoline EGR module for mild-hybrid technology with Fiat Chrysler Automobiles in the EMEA region. The compact EGR module aids in reducing emissions and improving fuel efficiency for Fiat’s 1.0-liter, three-cylinder engine. BorgWarner emphasizes its expertise in in-house development and manufacturing, contributing to cleaner hybrid applications.
BorgWarner presented the Borg-Warner Trophy to Takuma Sato, the winner of the 104th Indianapolis 500, marking the first time the race occurred in August due to COVID-19. Sato, driving for Rahal Letterman Lanigan Racing, led 27 of 200 laps, averaging 157.824 mph. The trophy, created in 1936, features the likeness of each winner, with Sato being the 107th face. BorgWarner has supplied turbochargers for the event since 2012 and continues to support the race with a jackpot for consecutive winners. Sato's victory adds to the legacy of the event and BorgWarner's role in motorsports.
BorgWarner presented the 54th annual Louis Schwitzer Award to eight engineers for their work on the Aeroscreen, an innovative safety device for INDYCAR. The award recognizes engineering excellence focused on performance and safety advancements in the NTT INDYCAR SERIES. The recipients will donate their $10,000 prize to SeriousFun Children's Network. The Aeroscreen, designed to withstand significant impact and provide clear sightlines, showcases a collaboration involving multiple global manufacturers. BorgWarner emphasized the importance of engineering innovation in enhancing driver safety.