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Recently, BorgWarner & Company signed an agreement with Huf Electronics GmbH and BorgWarner will sell its tire pressure detection system business to Huf Electronics.
It is reported that BorgWarner acquired the tire pressure detection system business when it acquired the Beir diesel engine cold start and ignition system business in 2005. BorgWarner said that its tire pressure monitoring system business meets strict European standards, but because BorgWarner's focus is on powertrains, the tire pressure detection system business has deviated from the company's development focus.
According to the agreement, BorgWarner will also sell its factory in Germany, which employs 230 people. However, the agreement still needs the approval of the relevant management department. Borgwarner said that the sale of the business may have caused a loss of 10 to 15 million U.S. dollars, depending on the price at which the business was acquired.