BorgWarner sells tire pressure monitoring business

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Dustin Walsh
Crain's Detroit Business
November 30, 2011 - 3:07 pm ET

DETROIT -- BorgWarner Inc. said today it sold its tire pressure monitoring business to Germany-based Huf Electronics GmbH.

Financial terms of the deal were not disclosed and the transaction is subject to regulatory approvals. The deal includes a plant in Bretten, Germany, that employs about 230 people.

The tire-pressure business was acquired as part of BorgWarner’s acquisition of a majority stake in Beru AG for $490 million in 2005, the same year BorgWarner moved its headquarters from Chicago to metro Detroit.

BorgWarner acquired its stake in Beru for the diesel technology.

Birmingham-based financial advisory firm Angle Advisors LLC and its German affiliate @Visory Parnters represented BorgWarner on the deal.

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