AUBURN
HILLS, Mich., March 28,
2024 /PRNewswire/ -- BorgWarner, a global product
leader in delivering innovative and sustainable mobility solutions,
has been awarded on Newsweek's list of Most Trustworthy Companies
in America 2024. This prestigious award is presented by Newsweek
and Statista Inc., the world-leading statistics portal and industry
ranking provider. The awards list was announced on March 27th, 2024, and can be viewed on
Newsweek.com.
The Most Trustworthy Companies in America 2024 have been chosen
based on a holistic approach to evaluating trust. The three main
public pillars of trust were considered: customer trust, investor
trust, and employee trust.
The analysis followed a 3-step process:
- Step 1 - Market Definition:
All companies headquartered in the US with a revenue of over
$500 million were considered in the
study.
- Step 2 – Extensive survey
Based on an independent survey of about 25,000 U.S. residents who
rated companies they know in terms of all three touch points of
trust. A total of 97,000 evaluations of companies were
submitted.
- Step 3 – Social Listening
Based on what was said about a company in various media segments of
the internet and evaluating whether it was positive, neutral, or
negative. In total, over 523,000 mentions were gathered.
Based on the results of the study, BorgWarner is ecstatic to be
recognized on Newsweek's list of Most Trustworthy Companies in
America 2024.
"Being named to Newsweek's Most Trustworthy Companies list is an
incredible recognition for BorgWarner, as it showcases the positive
reputation we've built in our communities over the years through
our company beliefs," said Frédéric Lissalde, President and CEO,
BorgWarner Inc. "We are proud to be listed among the other highly
respected companies on this esteemed list, including our peers and
customers."
Statista publishes hundreds of worldwide industry rankings and
company listings with high-profile media partners. This research
and analysis service is based on the success of statista.com, the
leading data and business intelligence portal that provides
statistics, relevant business data, and various market and consumer
studies and surveys.
About BorgWarner
For more than 130 years, BorgWarner
has been a transformative global product leader bringing successful
mobility innovation to market. Today, we're accelerating the
world's transition to eMobility – to help build a cleaner,
healthier, safer future for all.
Forward-Looking Statements: This release may contain
forward-looking statements as contemplated by the 1995 Private
Securities Litigation Reform Act that are based on management's
current outlook, expectations, estimates and projections. Words
such as "anticipates," "believes," "continues," "could,"
"designed," "effect," "estimates," "evaluates," "expects,"
"forecasts," "goal," "guidance," "initiative," "intends," "may,"
"outlook," "plans," "potential," "predicts," "project," "pursue,"
"seek," "should ," "target," "when," "will," "would," and
variations of such words and similar expressions are intended to
identify such forward-looking statements. Further, all statements,
other than statements of historical fact, contained or incorporated
by reference in this release that we expect or anticipate will or
may occur in the future regarding our financial position, business
strategy and measures to implement that strategy, including changes
to operations, competitive strengths, goals, expansion and growth
of our business and operations, plans, references to future success
and other such matters, are forward-looking statements. Accounting
estimates, such as those described under the heading "Critical
Accounting Policies and Estimates" in Item 7 of our most recently
filed Annual Report on Form 10-K ("Form 10-K"), are inherently
forward-looking. All forward-looking statements are based on
assumptions and analyses made by us in light of our experience and
our perception of historical trends, current conditions and
expected future developments, as well as other factors we believe
are appropriate under the circumstances. Forward-looking statements
are not guarantees of performance, and the Company's actual results
may differ materially from those expressed, projected or implied in
or by the forward-looking statements.
You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this release.
Forward-looking statements are subject to risks and uncertainties,
many of which are difficult to predict and generally beyond our
control, that could cause actual results to differ materially from
those expressed, projected or implied in or by the forward-looking
statements. These risks and uncertainties, among others, include:
supply disruptions impacting us or our customers, such as the
current shortage of semiconductor chips that has impacted original
equipment manufacturer ("OEM") customers and their suppliers,
including us; commodity availability and pricing, and an inability
to achieve expected levels of recoverability in commercial
negotiations with customers concerning these costs; competitive
challenges from existing and new competitors including OEM
customers; the challenges associated with rapidly changing
technologies, particularly as they relate to electric vehicles, and
our ability to innovate in response; the difficulty in forecasting
demand for electric vehicles and our electric vehicles revenue
growth; disruptions in the global economy caused by wars, including
the wars in Ukraine and the
Middle East; the ability to
identify targets and consummate acquisitions on acceptable terms;
failure to realize the expected benefits of acquisitions on a
timely basis; the possibility that our recently-completed tax-free
spin-off of our former Fuel Systems and Aftermarket segments into a
separate publicly traded company will not achieve its intended
benefits for us; the failure to promptly and effectively integrate
acquired businesses; the potential for unknown or inestimable
liabilities relating to the acquired businesses; our dependence on
automotive and truck production which is highly cyclical and
subject to disruptions; our reliance on major OEM customers; the
extent, duration, and impact of the recent and any future strikes
involving some of our OEM customers and any actions such OEM
customers take in response; fluctuations in interest rates and
foreign currency exchange rates; our dependence on information
systems; the uncertainty of the global economic environment; the
outcome of existing or any future legal proceedings, including
litigation with respect to various claims, or governmental
investigations, including related litigation; future changes in
laws and regulations, including, by way of example, taxes and
tariffs, in the countries in which we operate; impacts from any
potential future acquisition or disposition transactions; and the
other risks noted in reports that we file with the Securities and
Exchange Commission, including Item 1A, "Risk Factors" in our most
recently filed Form 10-K and/or Quarterly Report on Form 10-Q. We
do not undertake any obligation to update or announce publicly any
updates to or revisions to any of the forward-looking statements in
this release to reflect any change in our expectations or any
change in events, conditions, circumstances, or assumptions
underlying the statements.
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SOURCE BorgWarner