UK-based auto and aerospace parts and equipment maker Arlington Industries Group Ltd. plans to acquire U.S. automotive company BorgWarner Inc’s thermostat business.
Under the terms of the deal, Arlington Industries Group will pay approximately 24 million euros ($27.5 million) for thermostat unit, consisting of two production hubs situated in Brazil and Germany.
The divestment enhances BorgWarner to focus on the developing technically-enhanced propulsion systems, in view of changing demand of the market.
The deal will close in the first quarter of 2019, subject to customary closing conditions. In third-quarter 2018, BorgWarner booked $2.5 billion in revenue.