BorgWarner Divests Kysor-Westran
7 December 2000
BorgWarner Divests Kysor-WestranCHICAGO, Dec. 7 BorgWarner Inc. today announced that it has completed the sale of Kysor-Westran to Bergstrom Climate Systems L.L.C., a leading supplier of mobile climate systems and components to the commercial vehicle, off-highway and specialty vehicle industries. Terms of sale were not disclosed. The Kysor-Westran HVAC unit was part of the Vehicle Products business of Kuhlman Corporation that BorgWarner acquired in March of last year. The unit is among a number of solid businesses that do not fit into BorgWarner's strategic focus on powertrain technology that have been divested since the acquisition. Kysor-Westran HVAC serves the agricultural/off-highway market in North America and Europe. It is headquartered in Byron, Illinois and employs about 320 people. Chicago-based BorgWarner is a product leader in highly engineered components and systems for vehicle powertrain applications worldwide. The company operates 60 manufacturing and technical facilities in 13 countries. Customers include Ford, DaimlerChrysler, General Motors, Toyota, Caterpillar, Navistar, PSA and VW Group. The Internet address for BorgWarner is: http://www.bwauto.com . Statements contained in this news release may contain forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act that are based on management's current expectations, estimates and projections. Words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those projected or implied in the forward- looking statements. Such risks and uncertainties include: fluctuations in domestic or foreign automotive production, the continued use of outside suppliers by original equipment manufacturers, fluctuations in demand for vehicles containing the Company's products, general economic conditions, as well as other risks detailed in the Company's filings with the Securities and Exchange Commission, including the Cautionary Statements filed as Exhibit 99.1 to the Form 10-K for the fiscal year ended December 31, 1999.