BorgWarner up on spin-off plan for fuel systems, aftermarket segments
06/12/2022 14:10
** Shares of auto parts supplier BorgWarner Inc BWA.N up
2.8% at $43.10 premarket
** Company says it plans to spin-off its fuel systems and
aftermarket segments into a separate, publicly traded company
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** After completion of spin-off, BWA will consist of the
e-propulsion and drivetrain and air management segments
** "The intended separation of our fuel systems and
aftermarket segments would be an important next step to further
our pivot to EVs," says BorgWarner CEO
** As of last close, shares down about 7% YTD
(Reporting by Vansh Agarwal in Bengaluru)
((Vansh.Agarwal@thomsonreuters.com))