BorgWarner expects European growth.(News)(Interview)

Byline: Jens Meiners

BorgWarner has become a de facto European company as sales and employee headcount have increased in Europe while declining in North America, says CEO Timothy Manganello. The US powertrain systems supplier's North American sales have declined to less than 20 percent of its global total of $4.3 billion (about [euro]3.35 billion) while Europe has grown to a 40 percent share, Manganello says. The company is poised to increase its business in Europe through acquisitions in the areas of diesel, transmissions and drivetrain technology. Manganello, a 17-year veteran ...