BorgWarner sells fuel systems unit
CHICAGO (April 18, 2001) — BorgWarner Inc. completed the sale of its fuel systems business to an investor group led by privately held TMB Industrie.
The business unit, based in Grand Rapids, Mich., supplies fuel tanks and related components for medium and heavy-duty trucks. It was part of the Vehicle Products business of Kuhlman Corp. that BorgWarner acquired in March 1999.
BorgWarner said the division has annual revenue of $75 million. Terms of the sale were not disclosed.
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