FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: February 10, 2000
BORGWARNER INC.
(formerly Borg-Warner Automotive, Inc.)
(Exact name of registrant as specified in its charter)
Delaware 1-12162 13-3404508
(State of Incorporation)(Commission File No.)(I.R.S.Employer IdentificationNo.)
200 South Michigan Avenue, Chicago, Illinois 60604
(address of principal executive offices)
Registrant's telephone number, including area code: 312/322-8500
<PAGE>
Item 5. Other Events
On February 10, 2000, Borg-Warner Automotive, Inc. announced that it
changed its name to BorgWarner Inc. The information contained in the press
release is incorporated herein by reference.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 BorgWarner Inc. Press Release dated February 10, 2000.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the under-
signed, hereunto duly authorized.
BORGWARNER INC.
By: /s/ Vincent M. Lichtenberger
----------------------------
Vincent M. Lichtenberger
Assistant Secretary
Dated: February 10, 2000
<PAGE>
EXHIBIT INDEX
99.1 BorgWarner Inc. Press Release dated February 10, 2000.
Immediate Release
Contact Mary Brevard
Director, Investor Relations
& Communications
Phone: 312/322-8683
COMPANY HERITAGE CITED IN RETURN TO BORGWARNER NAME
Chicago, Illinois, February 10, 2000 As a pioneering innovator in powertrain
products for cars and trucks, Borg-Warner Automotive (NYSE: BWA) is
capitalizing on its heritage by returning to its founding name from 1928:
BorgWarner.
"To our customers, our shareholders and our employees, we have always been
known as "BorgWarner,'" said John F. Fiedler, the company's chairman and chief
executive officer. "Returning to the BorgWarner name reflects our roots in the
car and truck industry. The BorgWarner name is tied to many of our industry's
important powertrain innovations. Every day, millions of people throughout the
world rely on products built by BorgWarner people that improve the performance
and reliability of their vehicles' engines, transmissions and four-wheel drive
systems. Our name is also closely associated with one of the world's greatest
racing events through sponsorship of the BorgWarner Indianapolis 500 Trophytm.
Since 1936, our trophy has been synonymous with top performance, speed and
leading-edge technology."
The company's legal name is now BorgWarner Inc. The stock symbol remains
BWA. In addition, the names of the company's operating groups have been
updated with a simplified identity system to reflect the BorgWarner name and the
broadened capabilities of some of its business groups.
BorgWarner TorqTransfer Systems replaces Borg-Warner Automotive Powertrain
Systems to communicate an expanded focus on torque distribution beyond
traditional four-wheel drive. BorgWarner Transmission Systems replaces Borg-
Warner Automotive Automatic Transmission Systems, to more accurately represent
that group's capabilities in new technologies including automated manual
transmissions and continuously variable transmissions. The other groups are
BorgWarner Air/Fluid Systems, BorgWarner Morse TEC, BorgWarner Turbo Systems and
the company's newest group, BorgWarner Cooling Systems. The changes are
effective immediately. The company's Internet address remains www.bwauto.com.
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Return to BorgWarner Name Page 2
BorgWarner was founded in Chicago in 1928 when four automotive parts makers
banded together to supply the burgeoning vehicle industry, the technology boom
of its day. By the 1980s, the company grew into a diversified corporation which
was split up following a leveraged buyout. The automotive business became its
own public company in 1993. "As a company, we are now the one and only
BorgWarner," noted Fiedler. "We have been a pioneering innovator in our
industry for more than 70 years. The same engineering entrepreneurship that
characterized our founding companies still drives us today."
The founding companies of BorgWarner were industry innovators Borg & Beck
of Chicago, Illinois; Warner Gear of Muncie, Indiana; Marvel-Schebler Carburetor
of Flint, Michigan and Decatur, Illinois; and Mechanics Universal Joint of
Rockford, Illinois. Morse Chain of Ithaca, New York joined the next year. In
1996, another automotive icon, Holley Automotive of Detroit, Michigan, became
part of the BorgWarner family.
Over the past three years, BorgWarner has expanded its growth in engine
products with the acquisitions of U.S. and German turbocharger pioneers,
Schwitzer and AG Kuhnle, Kopp & Kausch, and the purchase of Eaton Corporation's
Fluid Power Division.
Chicago-based BorgWarner is a product leader in highly engineered
components and systems for vehicle powertrain applications. With over 14,000
employees, the company operates 60 manufacturing and technical facilities in 13
countries serving worldwide vehicle manufacturers. Customers include Ford,
DaimlerChrysler, General Motors, Toyota, Caterpillar, Navistar and VW.
# # #
Statements contained in this news release may contain forward-looking statements
as contemplated by the 1995 Private Securities Litigation Reform Act that are
based on management's current expectations, estimates and projections. Words
such as "expects," "anticipates," "intends," "plans," "believes," "estimates,"
variations of such words and similar expressions are intended to identify such
forward-looking statements. Forward-looking statements are subject to risks and
uncertainties, which could cause actual results to differ materially from those
projected or implied in the forward-looking statements. Such risks and
uncertainties include: fluctuations in domestic or foreign automotive
production, the continued use of outside suppliers by original equipment
manufacturers, fluctuations in demand for vehicles containing the Company's
products, general economic conditions, as well as other risks detailed in the
Company's filings with the Securities and Exchange Commission, including the
Cautionary Statements filed as Exhibit 99.1 to the Form 10-K for the fiscal year
ended December 31, 1998.
