{"id":767665,"date":"2023-07-05T07:14:46","date_gmt":"2023-07-05T11:14:46","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/phinia-inc-completes-separation-from-borgwarner-starts-trading-on-new-york-stock-exchange\/"},"modified":"2023-07-05T07:14:46","modified_gmt":"2023-07-05T11:14:46","slug":"phinia-inc-completes-separation-from-borgwarner-starts-trading-on-new-york-stock-exchange","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/phinia-inc-completes-separation-from-borgwarner-starts-trading-on-new-york-stock-exchange\/","title":{"rendered":"PHINIA Inc. Completes Separation from BorgWarner, Starts Trading on New York Stock Exchange"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>PHINIA Inc. Completes Separation from BorgWarner, Starts Trading on New York Stock Exchange<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nLeader in premium fuel systems, electrical systems and aftermarket products completes spin-off from BorgWarner and launches as independent entity.<\/p>\n<\/li>\n<li>\nThe spin provides PHINIA the freedom to focus on delivering market-leading solutions to advance sustainability today and power a carbon-free tomorrow.<\/p>\n<\/li>\n<li>\nPHINIA will trade on NYSE under \u201cPHIN\u201d ticker symbol.<\/p>\n<\/li>\n<\/ul>\n<p>AUBURN HILLS, Mich.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nPHINIA Inc. begins trading today as an independent company on the New York Stock Exchange under the ticker symbol \u201cPHIN\u201d. This follows the completion of its spin-off from BorgWarner (NYSE:BWA) on July 3 which created a leading Fuel Systems and Aftermarket business, with strong brands including Delphi, Delco Remy\u00ae, and Hartridge. The company\u2019s mission is to deliver high quality, innovative systems and components for OE and aftermarket customers across commercial and light vehicles and industrial applications, while leveraging fuel technology as a pathway to carbon neutrality.<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20230705624078\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230705624078\/en\/<\/a><\/p>\n<div id=\"bwbodyimg\" style=\"width: 480px;float:left;padding-left:0px;padding-right:20px;padding-top:0px;padding-bottom:0px\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230705624078\/en\/1833753\/4\/PHINIA_Brady_Ericson.jpg\" alt=\"Brady Ericson, President and Chief Executive Officer of PHINIA (Photo: Business Wire)\" \/><\/p>\n<p style=\"font-size:85%\">Brady Ericson, President and Chief Executive Officer of PHINIA (Photo: Business Wire)<\/p>\n<\/div>\n<p>\n\u201cToday is a very exciting day as we begin this new chapter as an independent business,\u201d said Brady Ericson, President and Chief Executive Officer of PHINIA. \u201cWith our focused strategy, scale, talented workforce, and strong financial resources, this move gives us the freedom to grow our business and create value for our customers, employees, and shareholders. Our customers are looking for quality, efficiency, performance, and reliability, and PHINIA is pleased to be their global partner.\u201d<\/p>\n<p>\nEricson has over 30 years of industry experience and brings in-depth knowledge of the global commercial vehicle, industrial and automotive markets and an extensive engineering background. He previously led three different business units of BorgWarner and was BorgWarner\u2019s first Chief Strategy Officer. He is joined by a strong executive team with a track record of success, including Chris Gropp, Vice President and Chief Financial Officer. Gropp has spent over 20 years with BorgWarner, and she most recently held the position of Vice President of Finance for Fuel Systems and Aftermarket.<\/p>\n<p>\n\u201cWe believe that PHINIA\u2019s strong margins, cash flow and low leverage position the company to deliver solid total shareholder returns through profitable growth, competitive dividends and opportunistic share repurchases,\u201d said Gropp. \u201cWe are committed to our strategic and financial priorities, which include disciplined growth and reinvestment in the business to maintain our product leadership position and to support our customers with components and systems.\u201d<\/p>\n<p>\nPHINIA\u2019s primary focus will be on applications and markets that will benefit the most from the energy density and utility of a fuel \u2013 driving the efficiency and performance of today\u2019s products, helping keep efficient vehicles in operation longer, and supporting the transition to carbon-neutral and carbon-free fuels of tomorrow.<\/p>\n<p>\n\u201cOur strategy centers around developing sustainable solutions for internal combustion engines and leveraging our technology for alternative fuels which we believe will rapidly become a key contributor on our journey to carbon neutrality. Our vision of a sustainable future includes a wide range of solutions including carbon-neutral and carbon-free fuels,\u201d said Ericson.<\/p>\n<p class=\"bwalignc\">\n-Ends-<\/p>\n<p><b>About PHINIA<\/b><\/p>\n<p>\nPHINIA is an independent, market-leading, premium solutions and components provider with over 100 years of manufacturing expertise and industry relationships, with a strong brand portfolio that includes Delphi, Delco Remy\u00ae and Hartridge. With 12,900 employees across 44 locations in 20 countries, PHINIA is headquartered in Auburn Hills, Michigan, USA.<\/p>\n<p>\nWorking across commercial vehicle and industrial applications (heavy-duty and medium duty trucks, off-highway construction, marine, agricultural and industrial applications), and light vehicles passenger cars, trucks, vans and sport-utility vehicles), we develop fuel systems and aftermarket parts that keep combustion engines operating at peak performance, as cleanly and efficiently as possible, while at the same time investing in future technologies that will unlock the potential of alternative fuels.<\/p>\n<p>\nBy providing what the market needs today, to become more efficient and sustainable, while also developing innovative products and solutions for a cleaner tomorrow, we are the partner of choice for a diverse array of industrial and aftermarket customers \u2013 powering our shared journey toward a carbon-neutral and carbon-free tomorrow.<\/p>\n<p>\n(Delco Remy\u00ae is a registered trademark of General Motors corporation, licensed to BorgWarner PDS (Anderson) LLC)<\/p>\n<p><b>Disclaimer<\/b><\/p>\n<p>\nThis document may contain forward-looking statements that are based on management\u2019s current outlook, expectations, estimates and projections. For more information see <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.phinia.com%2Flegal%2Fforward-looking-statements&amp;esheet=53438870&amp;newsitemid=20230705624078&amp;lan=en-US&amp;anchor=phinia.com%2Flegal%2Fforward-looking-statements&amp;index=1&amp;md5=75996a068aff04f53a4663c4f37070e9\">phinia.com\/legal\/forward-looking-statements<\/a><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230705624078r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230705624078\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230705624078\/en\/<\/a><\/span><\/p>\n<p>\nKatherine Skidmore<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:phiniapr@fox.agency\">phiniapr@fox.agency<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Michigan United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Oil\/Gas Automotive Manufacturing Alternative Energy Energy Manufacturing Sustainability Alternative Vehicles\/Fuels Environment Trucking Transport Aftermarket Machinery Automotive Vehicle Technology Utilities<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230705624078\/en\/1833281\/3\/PHINIA_logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Photo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230705624078\/en\/1833753\/3\/PHINIA_Brady_Ericson.jpg\" alt=\"Photo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\">Brady Ericson, President and Chief Executive Officer of PHINIA (Photo: Business Wire)<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>PHINIA Inc. Completes Separation from BorgWarner, Starts Trading on New York Stock Exchange Leader in premium fuel systems, electrical systems and aftermarket products completes spin-off from BorgWarner and launches as independent entity. The spin provides PHINIA the freedom to focus on delivering market-leading solutions to advance sustainability today and power a carbon-free tomorrow. PHINIA will trade on NYSE under \u201cPHIN\u201d ticker symbol. AUBURN HILLS, Mich.&#8211;(BUSINESS WIRE)&#8211; PHINIA Inc. begins trading today as an independent company on the New York Stock Exchange under the ticker symbol \u201cPHIN\u201d. This follows the completion of its spin-off from BorgWarner (NYSE:BWA) on July 3 which created a leading Fuel Systems and Aftermarket business, with strong brands including Delphi, Delco Remy\u00ae, and Hartridge. The company\u2019s mission &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/phinia-inc-completes-separation-from-borgwarner-starts-trading-on-new-york-stock-exchange\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;PHINIA Inc. Completes Separation from BorgWarner, Starts Trading on New York Stock Exchange&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-767665","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PHINIA Inc. 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The spin provides PHINIA the freedom to focus on delivering market-leading solutions to advance sustainability today and power a carbon-free tomorrow. PHINIA will trade on NYSE under \u201cPHIN\u201d ticker symbol. AUBURN HILLS, Mich.&#8211;(BUSINESS WIRE)&#8211; PHINIA Inc. begins trading today as an independent company on the New York Stock Exchange under the ticker symbol \u201cPHIN\u201d. This follows the completion of its spin-off from BorgWarner (NYSE:BWA) on July 3 which created a leading Fuel Systems and Aftermarket business, with strong brands including Delphi, Delco Remy\u00ae, and Hartridge. The company\u2019s mission &hellip; Continue reading &quot;PHINIA Inc. 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