AUBURN HILLS, Mich., Jan. 31 /PRNewswire-FirstCall/ -- Achieving a 65% increase in shareholder value earned BorgWarner a 2007 Global Shareholder Value Award from Automotive News and PricewaterhouseCoopers. It was the highest total shareholder return over a one-year period among public global automotive parts suppliers in 2007.
"BorgWarner continues to deliver strong performance during a time of transition and globalization in our industry," said Tim Manganello, BorgWarner Chairman and CEO. "As demand for our fuel-efficient products continues to increase, investors recognize the company's value. We believe the strategies we have in place will allow us to produce sustainable growth and continue to outpace the global auto industry."
The award is based on the performance of a $100 investment in a company's stock (including stock appreciation and reinvestment of dividends) compared with the PricewaterhouseCoopers Automotive Shareholder Value Index. BorgWarner's performance represents a 65% increase. The supplier group on average delivered a 7% improvement.
The award presentation noted that "BorgWarner has leveraged its broad customer base; increased sales in growing Asian markets faster than other U.S.-based competitors; and expanded manufacturing facilities in Korea, Germany, France, China and Hungary in 2007. The company has also aggressively focused its product portfolio on high-tech, high-margin components, including many that help automakers meet tightening emissions and fuel economy regulations."
Auburn Hills, Michigan-based BorgWarner Inc. 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, Toyota, Renault/Nissan, General Motors, Hyundai/Kia, Daimler, Chrysler, Fiat, BMW, Honda, John Deere, PSA, and MAN. The Internet address for BorgWarner is: http://www.borgwarner.com.
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