BorgWarner Inc. announced that the company has completed its acquisition of Delphi Technologies.
The combination of BorgWarner and Delphi “is expected to strengthen BorgWarner’s electronics and power electronics products, capabilities and scale, creating a leader in electrified propulsion systems that BorgWarner believes is well-positioned to take advantage of future propulsion migration,” the company asserted in a news release.
“We are pleased to complete our acquisition of Delphi Technologies,” said Frédéric Lissalde, president and CEO of BorgWarner. “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.
“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. I have great confidence that we will realize what we believe are significant benefits of this combination for our shareholders, customers and suppliers.”
Global aftermarket customers will continue to benefit from an extensive portfolio of BorgWarner and Delphi Technologies OE-quality aftermarket parts, services, diagnostic tools and test equipment, BorgWarner noted.
“As a brand of BorgWarner, Delphi Technologies Aftermarket will maintain its brand identity, and customers across the world will be able to rely on their trusted contacts for sales and customer service support,” the company added.
The completion of the transaction follows approval by Delphi Technologies’ shareholders, receipt of required regulatory approvals, the satisfaction of certain conditions relating to indebtedness of Delphi Technologies, and the satisfaction or waiver of customary closing conditions.
In connection with the close of the transaction, Delphi Technologies common stock will cease to be traded on the New York Stock Exchange.