) 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.
BORG WARNER INC (BWA): Free Stock Analysis
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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
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
Ford Motor Co.
Toyota Motor Corp.
Honda Motor Co.
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.