) announced the opening of a new facility in Manesar, near New
Delhi, India. The 86,000-square-foot facility will primarily
manufacture exhaust gas recirculation (EGR) coolers, tubes,
valves and modules.
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The Manesar plant will replace the former facility in Faridabad
and will expand the production capacity of the company. It will
also support domestic and international automakers by providing
sales, design, and test validation capabilities. The customers
includes Maruti Suzuki, Mahindra & Mahindra, Renault,
General Motors Company
Tata Motors Limited
), Ashok Leyland, Volvo Eicher and others.
The EGR technologies help the auto companies to reduce nitrogen
oxide (NOx) emission and meet strict emission regulations. The
EGR systems are designed in such a manner that it can be used in
any application from passenger cars to commercial trucks.
Management believes that the new facility will strengthen the
market position of the company in EGR coolers business and will
also support the rising demand for EGR products. With this, the
company expects that Indian EGR business will improve by 35% over
the next five years.
Moreover, the new BorgWarner facility in India is an eco-friendly
facility. It makes maximum utilization of natural light and
features LED lighting, which preserve energy and collects
rainwater for landscaping and sanitation.
BorgWarner is a leading manufacturer of powertrain products for
the world's major automakers. The company operates in 57
locations in 19 countries, providing products that are capable of
improving vehicle performance and stability along with fuel
efficiency and emission levels. It retains a Zacks Rank #3
BorgWarner posted a 3.5% increase in profits to $1.19 per share
(excluding non-recurring items) in the third quarter of the year
from $1.15 in the same quarter of 2011. The profit was in line
with the Zacks Consensus Estimate.
Revenues dipped 5% to $1.7 billion due to a 6% fall in light
vehicle production in Europe, which comprises over half of the
company's ales. However, excluding the impact of foreign
currencies and dispositions in 2011, net sales went up 2% in the