BorgWarner Inc.’s (BWA - Free Report) facilities in Frankfort, Ill., and Ketsch, Germany, have received the Supplier Quality Excellence Award from General Motors Company (GM - Free Report) . The award was given to about 7% of the General Motors supplier who managed to meet the quality performance criteria.
Over the last 40 years, BorgWarner has maintained strong business relations with General Motors by supplying superior quality transmission systems. The facilities of BorgWarner supplies one-way clutches for General Motor’s 6-speed longitudinal transmissions, which are used in the wide range of vehicles of the company like Chevrolet, GMC and Cadillac. The facility based in Frankfort also supplies brake bands for a 4-speed transmission program.
The mechanical clutching systems of BorgWarner are equipped with best efficiency characteristics, which are suitable for a wide range of applications. The one-way clutch systems offer superior engagement performance and high efficiency for the automatic transmissions.
BorgWarner is a leading manufacturer of powertrain products for the world's major automakers. The company’s products are capable of improving vehicle performance and stability meeting fuel-efficiency and emission standards. The company’s largest customers include Ford Motor Co. (F - Free Report) and Toyota Motor Corp. (TM - Free Report) .
BorgWarner posted earnings per share (excluding non-recurring items) to $1.16 per share in the fourth quarter of 2012, down 2.5% from $1.19 in the same quarter of 2011. However, the results surpassed the Zacks Consensus Estimate by 4 cents.
Revenues dipped 3.1% year over year to $1.72 billion in the quarter, but were ahead of the Zacks Consensus Estimate of $1.69 billion. Global light vehicle production inched up 1%, while production in Europe, which comprises over half of the company’s sales, declined 11%.
BorgWarner currently retains a Zacks Rank #3 (Hold).