ElectrificationRelease LowRes.jpgClick image to enlargeAutomotive supplier BorgWarner Inc. has acquired Delphi Technologies in an all-stock transaction that values U.K.-based Delphi at approximately US$3.3 billion.

Auburn Hills, Mich.-based BorgWarner says the deal will strengthen its power electronics products and capabilities. The deal signals BorgWarner's evolution towards the propulsion market of the future and will help the firm maintain flexibility across its combustion, hybrid, and electric propulsion (C-H-E) market segments.

The deal, which has been approved by the boards of directors of both companies, will leave current BorgWarner stockholders with approximately 84 per cent of the combined company, while current Delphi Technologies stockholders are expected to own approximately 16 per cent.

In fiscal year 2019, BorgWarner and Delphi Technologies—which was spun-off from General Motors about 20 years ago—estimated $10.17 billion and $4.36 billion of net sales, respectively. In a release, BorgWarner says the combined company is expected to be one of the leading pure-play propulsion companies globally, serving light and commercial vehicle manufacturers and the aftermarket with propulsion products and systems across combustion, hybrid and electric, resulting in greater content-per-vehicle.

"This exciting transaction represents the next step in BorgWarner's balanced propulsion strategy, strengthening our position in electrified propulsion as well as our combustion, commercial vehicle and aftermarket businesses," said Frédéric Lissalde, President and CEO of BorgWarner.

"Delphi Technologies will bring proven leading power electronics technologies, talent and scale that will complement our hybrid and electric vehicle propulsion offerings. As a combined company, we look forward to delivering enhanced solutions to our customers while driving increased value for our stockholders," he said.

"This is a compelling transaction that we are confident delivers clear benefits to our stakeholders," said Richard F. Dauch, CEO of Delphi Technologies. "Delphi Technologies' portfolio is highly complementary to BorgWarner's, and together we plan to create a pioneering propulsion technologies company uniquely equipped to serve OEMs and aftermarket customers around the world.”

https://www.borgwarner.com/home

LVD North America launches INNOV8, Innovation roadshow

LVD North America has announced its INNOV8 program and its Innovation Tour mobile roadshow.

Canadians enjoy Shop IMTS Luncheon

Approximately 5000 Canadians attended the International Manufacturing Technology Show at McCormick Place in Chicago,

Vaccine mandate for truckers could make supply chain worse

Canadian manufacturing’s supply chain troubles could get worse if Ottawa pushes ahead with plans to mandate the Covid-19 vaccine for domestic federally regulated workers in the trucking industry, the Canadian Trucking Alliance (CTA) is warning.

Welders among high paying jobs that don't need a degree

Welders, pipe fitters and electricians are cited in a Workopolis survey among the high paying jobs in Canada that don't require a university degree.

CME survey reveals COVID's scars on industry

Canadian Manufacturers and Exporters’ (CME) newly released Management Issues Survey shows the impact of the global pandemic on manufacturers, including disruptions in supply chain and increased labour and skills shortages.

New Algoma Steel facility to make advanced grades of steel

Algoma Steel is celebrating the first arc at its second ladle metallurgy facility.

Welding group applauds federal budget

The Canadian Welding Association is happy with the federal government's initiatives for skills development outlined in the recent 2016 budget, "Growing the Middle Class."

Barreling Down

Circle segment cutters are reshaping how shops attack complex surfacing operations

College opens Centre for Smart Manufacturing

Conestoga College officially launched its new Centre for Smart Manufacturing located at the Cambridge, ON, campus of the college's Institute of Technology and Advanced Learning.

NRC and Fives team up on aero inspection systems

The National Research Council (NRC) has announced a partnership with the industrial engineering group Fives to improve the efficiency of manufacturing composite parts for the aerospace sector.

EMAG adds new Canadian sales rep

Jeff Moore has joined EMAG as regional sales manager to service the Canadian market.

GM to offer IoT services to OnStar-enabled fleets

Connected vehicle technology company Fleet Complete and General Motors are partnering to bring IoT-enabled services to OnStar-equipped fleet vehicles in Canada.

Ontario-made propellers for US Navy

An Ottawa, ON, manufacturer has developed a cost-effective machining process for complex impellers and propellers and just completed delivery of a series of its machined products for the US Navy. 

CTMA Annual Shotgun Golf Tournament awards

The Canadian Tooling & Machining Association (CTMA) held its 23rd Annual Shotgun Golf Tournament on Sept 14.

Mazak Canada hosts open house events

Mazak Canada has announced open house events at its locations in Cambridge, ON and Edmonton, AB.

Stay In Touch

twitter facebook linkedIn