BorgWarner Inc. (BWA) announced that it’s leading turbocharging technologies will be deployed in Jaguar Land Rover's new range of four-cylinder gasoline and diesel engines, which are scheduled for launch in 2015. The advanced technology will provide innovative solutions and support future growth of the Jaguar Land Rover.
BorgWarner also plans to expand its production lines and construct a new engineering center in Bradford, UK to support the new Jaguar engine manufacturing centre near Wolverhampton. The new production line will widen the company’s product offerings and include turbochargers for passenger cars. The new engineering center will provide opportunity for application engineering, design, simulation, testing and validation as well as metallurgical labs.
BorgWarner’s new center will receive grant from the UK government's Regional Growth Fund, which encourages private sector investment in England. With this new center, the company plans to provide sustainable employment opportunity in England, thus inducing economic growth.
In furtherance of its ties with the University of Huddersfield, BorgWarner plans to launch a master's degree program in turbocharger engineering in the university. Under this program, the students will get the opportunity to specialize in advanced technology to improve fuel economy, reduce emissions and enhance performance of passenger cars and commercial vehicles.
BorgWarner is a leading manufacturer of powertrain products for the world's major automakers. The company’s products are capable of improving vehicle performance and stability, thus meeting fuel-efficiency and emission standards. It currently holds a Zacks Rank #3 (Hold).
The company operates in 57 locations in 19 countries. These products are manufactured and sold worldwide, primarily to original equipment manufacturers of passenger cars, SUVs, trucks and commercial transportation products. The company’s largest customers include Ford Motor Co. (F), Toyota Motor Corp. (TM) and Honda Motor Co. (HMC).
BorgWarner posted a 1.6% rise in adjusted earnings to $1.30 per share (excluding non-recurring items) in the first quarter of 2013 from $1.28 in the first quarter of 2012. Earning per share surpassed the Zacks Consensus Estimate by 8 cents.
Revenues dipped year over year to 3.2% to $1.85 billion, but were marginally ahead of the Zacks Consensus Estimate of $1.84 billion. The decrease in revenues was driven by a 9% decline in light vehicle production in Europe.
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