BorgWarner says Phinia spinoff to begin trading in July

BorgWarner Inc. undefined shares fell 1.9% in the aftermarket Tuesday after the auto-parts supplier said the spinoff of its fuels systems Phinia Inc. is on...

BorgWarner Inc. shares fell 1.9% in the aftermarket Tuesday after the auto-parts supplier said the spinoff of its fuels systems Phinia Inc. is on track for early July. BorgWarner announced the spinoff in December."The intended separation supports advancing our electrification journey and optimizing our combustion portfolio and will best position BorgWarner for sustainable and profitable growth," the company said in a letter to shareholders Tuesday.

BorgWarner announced the spinoff in December."The intended separation supports advancing our electrification journey and optimizing our combustion portfolio and will best position BorgWarner for sustainable and profitable growth," the company said in a letter to shareholders Tuesday."As separate companies, both businesses will benefit from enhanced strategic focus and flexibility to pursue their differentiated market opportunities and deliver significant value to shareholders.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

MarketWatch /  🏆 3. in US

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Saudi Aramco to supply full oil volumes to some Asian refiners in July - sourcesSaudi Aramco has told at least five customers in North Asia they will receive full nominated volumes of crude oil in July, several sources with knowledge of the matter said on Monday, after it pledged to cut production next month.
Read more »

EXO To Drop Pre-Release Track “Let Me In” Tonight Ahead Of July ComebackEXO To Drop Pre-Release Track 'Let Me In' Tonight Ahead Of July Comeback
Read more »

Antonio 'AJ' Armstrong Jr's retrial delayed again to July 31The start of the third capital murder trial for Antonio 'AJ' Armstrong' Jr. has been delayed again, this time to late July.
Read more »

Over 60% of Americans plan to travel for July 4th 2023: reportHere's what Americans are planning, travel-wise, for the Fourth of July this year.
Read more »

US plans to rejoin UNESCO in July, China won't opposeUNESCO announces that the United States plans to rejoin the UN cultural and scientific agency after a decade-long dispute sparked by the organisation’s move to include Palestine as a member
Read more »