BorgWarner Buys Eldor's EHS Business, Boosting ePropulsion Portfolio

BorgWarner Inc BWA stated its plans to acquire Eldor Corporation's Electric Hybrid Systems (EHS) business segment for €75 million.

The acquisition will add innovative and cost-effective high-frequency DC/DC converter technology to its portfolio and boost its capabilities in engineering compact domain and efficient 400V and 800V onboard chargers. 

The transaction is expected to conclude in Q3 2023 upon satisfying closing conditions.

BorgWarner projects Eldor's EHS business to generate revenues of €25 million in 2023 and around €250 million in 2027.

"Eldor's technologies are a great complement to BorgWarner's ePropulsion portfolio, particularly as it relates to expanding in high-voltage power electronics beyond the inverter," said Frédéric Lissalde, President and CEO.

Last week, the company disclosed the expected completion of the PHINIA spin-off on July 3, 2023

Earlier this month, BorgWarner unveiled the next phase of its "Charging Forward" strategy on profitably growing eProducts for both BEVs and Hybrid vehicles, expecting to achieve $10 billion in eProducts sales by 2027.

Price Action: BWA shares closed higher by 0.66% at $48.60 on Friday.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EquitiesLarge CapM&ANewsMarketsBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...