BorgWarner Inc.’s (BWA - Free Report) Turbo Systems has received the Daimler Supplier Award 2012 from Daimler AG (DDAIF - Free Report) at the Key Supplier Meeting of Daimler in the Mercedes-Benz Center in Stuttgart, Germany. This award recognizes BorgWarner as one of the best suppliers for Daimler.
BorgWarner was also appreciated in the Mercedes-Benz Cars and Vans-Powertrain category for its exceptional performance in quality, costs and delivery reliability. This recognition is attributable to BorgWarner’s continuous focus on meeting consumer need for better technology, quality and reliability.
Over the years, BorgWarner has maintained strong business relations with Daimler by supplying a range of turbocharging technologies including regulated two-stage R2S and twin scroll turbochargers to Mercedes-Benz. These technologies improved fuel efficiency and maintained the emission standards together with enhancing the efficiency of the engines.
In 2008, BorgWarner supplied the R2S technology for the C 220 CDI BlueEFFICIENCY and C 250 CDI BlueEFFICIENCY engines for the Mercedes-Benz passenger vehicle. This was the first two-stage turbocharging system installed in the diesel engine of Mercedes. The relation was further strengthened by the launch of Mercedes-Benz A45 AMG featuring BorgWarner's twin scroll turbocharging technology.
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 also 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 fell 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).