BorgWarner sells Mississippi facility to Atar Capital
By Will Hall - 17th January 2022
USA – BorgWarner Inc, based in Auburn Hills, Michigan, has announced the sale of its Water Valley, Mississippi facility to Atar Capital. The sale forms part of BorgWarner’s accelerated electrification strategy titled Project Charging Forward which the firm announced in March 2021. As part of this strategy, the firm plans to transfer between USD3 billion and USD4 billion in annual revenues from its combustion portfolio to its electrification divisions.
The Water Valley sale encompasses the facility and its solenoid, transmission control module, and stop/start accumulator system businesses that are located there. The agreement consisted of USD42 million in cash and notes with up to USD30 million in potential earn out payments.
