Borg-Warner Automotive Files Registration Statement For Dividend Reinvestment Plan
14 July 1997
Borg-Warner Automotive Files Registration Statement For Dividend Reinvestment PlanCHICAGO, July 14 -- Borg-Warner Automotive, Inc. announced today that it has filed a registration statement with the Securities and Exchange Commission covering a dividend reinvestment and stock purchase plan. Common stock needed to meet the requirements of the plan will either be purchased in the open market or issued directly by the company and in each case will be priced in accordance with the formula set forth in the prospectus included in the registration statement. Initially, common stock will be purchased in the open market. Five hundred thousand shares of common stock are being registered. Chicago-based Borg-Warner Automotive, Inc. is a leading supplier of highly engineered components and systems, primarily for automotive drivetrain applications. The company operates manufacturing facilities in 12 countries serving the North American, European and Asian automotive markets. SOURCE Borg-Warner Automotive, Inc.