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Gloucestershire Business News

BorgWarner predicting sales fall will be shortlived

A technology company with a major base in Gloucestershire has seen sales drop in the first quarter of this year but with the prospect of better things to come.

In 2020, automotive components giants BorgWarner Inc confirmed the $3.3billion deal to buy Delphi Technologies, who employed around 1,200 people at its UK base in Oldends, Stonehouse.

In its results for the first quarter of 2022, BorgWarner's net sales were $3,874 million, down 3 per cent from $4,009 million for the first quarter 2021, due primarily to the impact of the decline in industry production and weaker foreign currencies.

However, looking ahead to 2022 as a whole, BorgWarner said: "Net sales are expected to be in the range of $15.5 billion to $16.0 billion, compared with 2021 sales of $14.8 billion. This implies a year-over-year increase in organic sales of 10% to 13%."

The purchase of Delphi saw BorgWarner add Delphi's expertise in power electronics to its portfolio.

The deal saw two leading suppliers to the automotive industry team up ready for the positioning into hybrid and electric vehicles.

In 1998, Dephi had become one of the leading suppliers of parts when it was born out of the General Motors group.

At its Stonehouse plant, Borgwarner manufactures fuel injection systems for diesel engines, commonly utilised within the commercial vehicle market - typically truck, large passenger and agricultural applications.

BorgWarner is the product leader with more than 130 years of experience, supporting the automotive industry in realising clean propulsion and efficient technology solutions for light, medium and heavy-duty vehicles as well as off-highway applications.

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