BorgWarner Divests Fuel Systems Unit
CHICAGO, April 17 BorgWarner Inc. today
announced that it has completed the sale of its fuel systems business to an
investor group led by TMB Industries, a private equity group. Terms of the
transaction were not disclosed.
The fuel systems unit was part of the Vehicle Products business of Kuhlman
Corporation that BorgWarner acquired in March of 1999. The unit is among a
number of solid businesses that have been divested since the acquisition
because they did not fit into BorgWarner's strategic focus on powertrain
technology.