BorgWarner Opens New Turbo Facilitiy in Korea
November 19 2007 - 9:25AM
PR Newswire (US)
BorgWarner Expects to Produce Nearly 2 Million Turbochargers in
Korea within Five Years AUBURN HILLS, Mich., Nov. 19
/PRNewswire-FirstCall/ -- Driven by increasing worldwide demand,
BorgWarner's majority-owned subsidiary, SeohanWarner Turbo Systems,
opened a 52,000-square-foot (4,800-square-meter) facility on the
BorgWarner Engine Group campus in Pyongtaek, Korea. The world-
class facility includes office, production and warehousing space
for a workforce expected to reach 130 within five years. In
addition, the facility will house the first on-site engine and
turbocharger testing cells for a turbocharger supplier in Korea.
The test facilities will be commissioned later this year and fully
operational early next year, further enhancing collaborative
relationships with customers. "Our strong strategic partnership
with Hyundai-Kia Motor Company and expertise in turbo technology
has driven our considerable growth since establishing a presence in
Korea in 2004," said Roger Wood, President and General Manager,
BorgWarner Turbo & Emissions Systems. "We look forward to
bringing many new and innovative products to the Asian and
worldwide markets in the future." BorgWarner expects the new Korean
facility will produce a total of nearly two million turbochargers
for customers worldwide in the next five years. BorgWarner launched
the first electronically actuated variable turbine geometry
(VTG(TM)) turbocharger in the Korean market for the Hyundai 3.0L V6
diesel engine, which powers the Veracruz luxury utility vehicle
(LUV). Developed in cooperation with BorgWarner Turbo &
Emissions Systems in Germany and SeohanWarner Turbo Systems, the
electric actuator allows Hyundai's engineers to better fine tune
the engine, resulting in increased fuel economy and performance as
well as significantly reduced emissions. The turbocharged V6 diesel
engine satisfies the first grade fuel economy standards in Korea
and meets the latest Euro IV regulations. SeohanWarner Turbo
Systems also produces turbochargers for the Hyundai Grand Starex,
Kia Sorento and Kia Grand Carnival. BorgWarner Turbo &
Emissions Systems is a leading global producer of turbochargers and
other engine air management systems for passenger cars, light
trucks and commercial vehicles. These systems are designed to
improve fuel economy, reduce emissions and enhance vehicle
performance. With operations in Korea since 1987, BorgWarner now
has six facilities in the country, including the new SeohanWarner
Turbo Systems facility. Auburn Hills, Michigan-based BorgWarner
Inc. (NYSE:BWA) is a product leader in highly engineered components
and systems for vehicle powertrain applications worldwide. The
FORTUNE 500 company operates manufacturing and technical facilities
in 64 locations in 17 countries. Customers include VW/Audi, Ford,
General Motors, Toyota, Hyundai/Kia, Daimler, Renault/Nissan,
Chrysler, Navistar International, Fiat, BMW, Honda, PSA, and
Caterpillar. The Internet address for BorgWarner is:
http://www.borgwarner.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,
many of which are difficult to predict and generally beyond our
control, that could cause actual results to differ materially from
those expressed, projected or implied in or by the forward-looking
statements. Such risks and uncertainties include: fluctuations in
domestic or foreign vehicle production, the continued use of
outside suppliers, fluctuations in demand for vehicles containing
our products, changes in general economic conditions, and other
risks detailed in our filings with the Securities and Exchange
Commission, including the Risk Factors, identified in our most
recently filed Annual Report on Form 10-K. We do not undertake any
obligation to update any forward-looking statements. DATASOURCE:
BorgWarner Inc. CONTACT: David Peterson of BorgWarner Inc.,
+1-248-754-0883 Web site: http://www.borgwarner.com/
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