BorgWarner Completes Acquisition of Sevcon

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Sep 28, 2017, 06:55 ET

AUBURN HILLS, Mich., Sept. 28, 2017 /PRNewswire/ -- BorgWarner announced today that it has finalized its acquisition of Sevcon, Inc. (Sevcon). A global player in electrification technologies, Sevcon complements BorgWarner's power electronics capabilities utilized to provide electrified propulsion solutions. Sevcon's annual sales for 2017 are expected to be approximately $60 million. The acquisition is expected to be modestly dilutive to earnings in 2018.

"This acquisition supports our existing strategy to supply leading technology for all types of propulsion systems; combustion, hybrid and electric," said James Verrier, President and CEO of BorgWarner. "We look forward to welcoming Sevcon's talented employees to BorgWarner."

BorgWarner announced an agreement to acquire Sevcon on July 17, 2017, and completed the acquisition on September 27, 2017.

About BorgWarner
BorgWarner Inc. (NYSE: BWA) is a global product leader in clean and efficient technology solutions for combustion, hybrid and electric vehicles. With manufacturing and technical facilities in 62 locations in 17 countries, the company employs approximately 27,000 worldwide. For more information, please visit borgwarner.com.

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SOURCE BorgWarner