BorgWarner (BWA) to Sell REMY Light Vehicle Aftermarket Business in ~$80M Deal
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BorgWarner Agrees to Sell REMY Light Vehicle Aftermarket Business to Torque Capital
October 3, 2016 8:30 AM EDTAUBURN HILLS, Mich., Oct. 3, 2016 /PRNewswire/ -- BorgWarner has agreed to sell its REMY light vehicle aftermarket business to an investor group led by Torque Capital Group. The sale includes manufacturing facilities in San Luis Potosi, Mexico; Piedras Negras, Mexico; Twinsburg, Ohio; Edmond, Oklahoma; Brussels, Belgium; Jemmal (Menzel Harb), Tunisia; and Miskolc, Hungary. The business employs a total of approximately 3,000 people. The purchase price of the transaction is approximately $80 million, subject to customary adjustment. Completion of the transaction is expected in the fourth quarter, subject to the satisfaction of customary closing conditions.
Sales of this light vehicle... More
