BORGWARNER MORSE TEC OPENS NEW POWDER METAL OPERATION IN CORTLAND, NY

 

ITHACA, N.Y., Oct. 4 /PRNewswire/ -- BorgWarner Morse TEC has relocated the powder metal segment of its engine timing systems production from Morse TEC headquarters in Ithaca, New York to a new facility in nearby Cortland, New York. BorgWarner Morse TEC President and General Manager Roger Wood said the expansion is due to the growth of the company's engine timing system business, as well as trends favoring systems rather than components and advanced powder metal processes over steel-machined sprockets.

"This expansion reflects our continuing commitment to our customers, the state of New York, and Morse TEC employees," said Wood. "New products such as powder metal sprockets for both timing system and transmission applications are expected to provide growth potential for this operation. Trends in engine timing systems from belts to chains in Europe and Japan are expected to offer additional growth opportunities."

Current employment at the Cortland facility is 120. It is expected that an additional 70 jobs will eventually be created at the new facility to meet growing customer demand.

A grand opening ceremony at the new operation, a 133,300-square-foot former industrial facility that Morse TEC has renovated over the past 18 months, was celebrated today with BorgWarner employees and customers along with Cortland and State of New York officials.

BorgWarner Morse TEC is a global leader in the design and manufacture of automotive chain systems and components for engine timing, automatic transmission and four-wheel drive applications. Chicago-based BorgWarner (NYSE: BWA) is a product leader in highly engineered components and systems for vehicle powertrain applications worldwide. The company operates manufacturing and technical facilities in 46 locations in 13 countries. Customers include Ford, DaimlerChrysler, General Motors, Toyota, Caterpillar, Navistar International and VW Group. The Internet address for BorgWarner is www.bwauto.com. For additional information, contact BorgWarner Corporate Communications at (312) 322-8500.

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, 2000.

 

 

 
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