BorgWarner complete Delphi Technologies takeover
By Rob Freeman | 6th October 2020
The purchase of Delphi Technologies by American automotive components giants BorgWarner has been completed.
The new Michigan-based owners confirmed the $3.3billion deal, first announced in January, to take over Delphi who employ around 1,200 people at its UK base in Stonehouse.
Delphi became one of the leading suppliers of parts for hybrid and electric vehicles when it was born out of the General Motors group in 1998.
It provides combustion systems, electrification products, software and controls in the passenger and commercial vehicle markets.
BorgWarner president Frederic Lissalde said: "We are pleased to complete our acquisition of Delphi Technologies
"Through this combination, BorgWarner is even better positioned with a more comprehensive portfolio of industry-leading propulsion products and systems across combustion, hybrid and electric vehicles.
"We expect that the combination will also strengthen our commercial vehicle and aftermarket businesses."
He continued: "We welcome Delphi Technologies' colleagues around the world to the BorgWarner team and are excited about the opportunities we have together to address market trends towards electrification.
"I am proud of our global workforce, including our integration planning teams, for driving the business forward as we managed through the pandemic and laying a strong foundation for a seamless integration."
Delphi's website now redirects to BorgWarner but the company says Delphi Technologies Aftermarket will maintain its brand identity.
The completion of the transaction follows approval by Delphi Technologies' shareholders, receipt of required regulatory approvals, the satisfaction of certain conditions and the satisfaction or waiver of customary closing conditions.
Delphi Technologies common stock will cease to be traded on the New York Stock Exchange.
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