On November 14, 2013, component supplier BorgWarner announced that it will spend US$24.6 million to expand its Seneca plant in South Carolina. BorgWarner currently employs approximately 600 employees in South Carolina. The expansion project is expected to be completed in the next few years, when the Seneca factory will create 105 new jobs for the local community. Stefan Demmerle, president and general manager of BorgWarner Torque Transmission Systems, said: “We look forward to the recent expansion project that will provide our customers with high quality and advanced technology while bringing new employment opportunities to the local community and maintaining economic development.†In the first three quarters of 2013, BorgWarner’s operating income totaled US$5.55 billion, up 1.6% from US$5.46 billion in the same period of last year; and net profit increased from US$380 million in the same period last year to US$480 million, a year-on-year increase of 27 %.
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