AUBURN HILLS — The Auburn Hills-based powertrain supplier BorgWarner Inc. said Wednesday it had finalized its acquisition of Remy International Inc., a manufacturer of rotating electrical components such as alternators, starter motors and electric traction motors for the automotive and commercial vehicle industry.
Pendleton, Ind.-based Remy, formerly known as Delco Remy, operates in 10 countries on five continents.
“With this acquisition, the complementary combination of technologies and global operations will strengthen BorgWarner’s product leadership position,” said BorgWarner president and CEO James R. Verrier. “We look forward to welcoming Remy’s talented employees to BorgWarner.”
BorgWarner announced an agreement to acquire Remy for $1.2 billion on July 13. That was also Remy’s revenue in 2014.
More at http://www.borgwarner.com.