BorgWarner Acquires Wahler , ems Not Disclosed

BorgWarner announced today that is has signed an agreement to acquire all shares in Gustav Wahler GmbH u. Co. KG and its general partner ("Wahler"), a producer of exhaust gas recirculation (EGR) valves, EGR tubes and thermostats. With locations in Germany, Brazil, the U.S., China and Slovakia, Wahler employs approximately 1,250 people and supplies customers such as Daimler, Volkswagen, BMW, GM and John Deere. Wahler's annual sales for 2013 are expected to be approximately $350 million. The deal is expected to close in the first quarter of 2014 subject to standard regulatory approvals. Terms of the deal were not disclosed. "From both a technology and geography standpoint, this acquisition is an excellent strategic fit," said James Verrier, President and CEO of BorgWarner. "The acquisition strengthens BorgWarner's strategic position as a producer of complete EGR systems and creates additional market opportunities in both passenger and commercial vehicle applications." Cooled EGR helps reduce NOx emissions and improves fuel economy in diesel and gasoline-direct injection (GDI) engines, important initiatives for OEMs around the globe. Wahler's EGR valve technology and strong European customer base combined with BorgWarner's existing EGR valve and EGR cooler businesses is expected to strengthen BorgWarner's participation