Author: PR Newswire Online News

Meritor to Acquire AxleTech, Enhancing Growth Platform in Off-Highway, Defense and Aftermarket Segments

The transaction advances Meritor’s M2022 objectives to accelerate global sales and growth by leveraging the company’s core competencies to grow strategically in adjacent markets. The addition of AxleTech enhances Meritor’s growth platform, bringing a highly complementary global product portfolio across the off-highway, defense, specialty and aftermarket segments. AxleTech’s offerings include a full product line of… Continue reading Meritor to Acquire AxleTech, Enhancing Growth Platform in Off-Highway, Defense and Aftermarket Segments

BorgWarner Announces New Joint Venture Which Will Add Battery Packs to its Broad Propulsion Portfolio

AUBURN HILLS, Mich., May 7, 2019 /PRNewswire/ — With global expertise supplying combustion, hybrid and electric vehicle propulsion solutions, BorgWarner is continuing to build its electrification portfolio and systems expertise by agreeing to form a joint venture with Romeo Power Technology, a technology-leading battery module and pack supplier. This new joint venture will be split 60/40… Continue reading BorgWarner Announces New Joint Venture Which Will Add Battery Packs to its Broad Propulsion Portfolio

Delphi Technologies reports first quarter 2019 financial results

Revenue of $1.2 billion, down 6%(*) year-on-year U.S. GAAP net income of $16 million, diluted earnings per share of $0.18 Excluding special items, earnings of $0.67 per diluted share U.S. GAAP operating income of $55 million, or 4.8% margin Adjusted operating income of $87 million, or 7.6% margin Generated $21 million of cash from operating… Continue reading Delphi Technologies reports first quarter 2019 financial results