From Detroit Free Press
CHICAGO — BorgWarner Inc., the largest maker of automatic-transmission parts for vehicles, said fourth-quarter profit rose to $50 million.
Net income increased to $1.80 a share, from $40.8 million, or $1.52 a share, a year earlier. Revenue climbed to $798.8 million from $700.8 million, the Chicago-based company said in a statement. BorgWarner is in the process of moving its headquarters to Auburn Hills, Mich.
The company said demand for its technology helped increase sales last year as worldwide car and truck production fell 2 percent.
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