secwatch.observer — SEC 8-K summary
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Issuer:     BORGWARNER INC (BWA)
CIK:        0000908255
Form:       8-K
Filed at:   2022-12-06T23:59:59+00:00
Accession:  0000908255-22-000052
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BorgWarner announces tax-free spin-off of Fuel Systems and Aftermarket segments into separate public company
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- Spin-off of Fuel Systems and Aftermarket segments into NewCo; expected completion late 2023, tax-free.
- BorgWarner to retain e-Propulsion & Drivetrain and Air Management segments, focusing on EV propulsion.
- NewCo 9M22: Fuel Systems rev $1.7B (margin 11.3%), Aftermarket rev ~$1.0B (margin 14.5%).
- BorgWarner: >22% of revenue from EVs by 2025; 9M22 Air Management rev ~$5.5B, e-Propulsion rev ~$3.9B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/908255/000090825522000052/0000908255-22-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/908255/000090825522000052/bwa-20221206.htm
  HTML page:      https://secwatch.observer/filing/0000908255-22-000052

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