12/30/2008
BorgWarner Expands Timing System Business in India with Buy-out of Joint Venture
BorgWarner engine timing system sales in India expected to show strong growth.
With its engine timing system sales in India expected to show strong
growth in the future, BorgWarner Morse TEC has bought-out its joint
venture with Murugappa Group's Tube Investments of India (TII) located
in Chennai, India. In 2001, BorgWarner Morse TEC partnered with TII to
manufacture silent chains for the Indian automotive and two-wheeler
markets, producing more than 4 million silent chains since then.
BorgWarner said the purchase of the joint venture reflects the
company's commitment to the Indian market as well as its customers in
the region, including Hyundai, Mahindra & Mahindra, Maruti Suzuki
and Tata.
The company said it will continue to invest in this business,
positioning BorgWarner to satisfy further growth in the automotive and
two-wheeler segments.
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