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Remy Signs Definitive Agreement To Be Acquired By BorgWarner
July 13, 2015 8:00 AM EDT
PENDLETON, Ind., July 13, 2015 /PRNewswire/ -- Remy International, Inc. (NASDAQ: REMY) today announced it has signed a definitive agreement to be acquired by BorgWarner Inc. (NYSE: BWA), a product leader in highly engineered components and systems for powertrains around the world.
Commenting on the transaction, Remy Chairman John Weber said, "This transaction provides substantial value to our shareholders, our employees and business partners around the globe. It provides an opportunity to market... More
BorgWarner Enters Into Agreement To Acquire Remy International
July 13, 2015 8:00 AM EDTAUBURN HILLS, Mich., July 13, 2015 /PRNewswire/ -- BorgWarner announced today that it has entered into a definitive agreement to acquire Remy International, Inc. (Remy), a global market leading producer of rotating electrical components. With key technologies and operations in ten countries on five different continents, Remy is strongly positioned to benefit from global growth. As of December 31, 2014 the company employed 6,600 people and, for the fiscal year, it generated sales of $1.2 billion.
"We look forward to welcoming Remy's talented employees to BorgWarner. Their products and capabilities will strengthen BorgWarner's position in the rapidly developing powertrain electrification trend,"... More
