(RTTNews.com) - BorgWarner ( BWA ) announced it has agreed to sell thermostat business to Arlington Industries Group Ltd. The sale includes manufacturing facilities in Oberboihingen, Germany and Piracicaba, Brazil. BorgWarner said the thermostat product technology is not core to the company's focus on propulsion systems for combustion, hybrid and electric vehicles.
The purchase price of the transaction is approximately 24 million euros. Full year sales of the thermostat business for 2018 are expected to be approximately 110 million euros. The company will incur a book loss on the sale of approximately $20 million to $30 million.
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