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BorgWarner to Acquire Remy Int’l

July 14, 2015 in Companies, Electric Drive by Rich Piellisch  |  No Comments

For ‘An Implied Enterprise Value’ of Approximately $1.2 Billion

Michigan’s BorgWarner said Tuesday that it’s agreed to acquire Remy International, “a global market leading producer of rotating electrical components.” updated July 15

Remy International is known for its HVH – high voltage hairpin – electric motors.

Remy International is known for its HVH – high voltage hairpin – electric motors.

Remy offers power-dense “HVH” motors found in a large number of electric vehicles.

“With key technologies and operations in ten countries on five different continents, Remy is strongly positioned to benefit from global growth,” BorgWarner said. “As of December 31, 2014 the company employed 6,600 people and, for the fiscal year, it generated sales of $1.2 billion…

‘Rapidly Developing Powertrain Electrification’

“BorgWarner will acquire each of the outstanding shares of Remy for $29.50 in cash, which implies an enterprise value of Remy of approximately $1.2 billion.”

Remy’s “products and capabilities will strengthen BorgWarner’s position in the rapidly developing powertrain electrification trend,” BorgWarner president and CEO James Verrier said in his company announcement.

“The acquisition will be another step in executing our plan, to profitably grow revenue to $15 billion by 2020,” Verrier said.

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Source: BorgWarner with Fleets & Fuels follow-up

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