BorgWarner has posted third quarter net sales of US$1.8bn, up around 6% compared to the same period last year.

Operating income was US$226m, or 12.5% of net sales, a new third quarter record, while around US$75m of shares were repurchased.

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“Our operations continued to perform at a high level in the third quarter,” said Borg Warner president and CEO, James Verrier. Operational efficiency and cost controls
enabled us to post a strong operating income margin of 12.5% in the quarter.

“The focus on fuel economy and improved emissions continued to drive growth for BorgWarner.

“Excluding the favourable impact of foreign currencies and 2012 dispositions, our net sales were up approximately 6% in the third quarter compared with third quarter 2012. Global light vehicle production was up 4% in the same period.”

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