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BorgWarner authorizes buyback of up to 5 million shares

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April 30, 2008

AUBURN HILLS, Mich.—Auto parts supplier BorgWarner Inc. on Wednesday said it will buy back up to 5 million shares.

The Auburn Hills, Mich.-based company said the authorization was made in anticipation of the end of its previous buyback program.

The company had about 117.8 million shares outstanding as of Dec. 31, according to a filing with the Securities and Exchange Commission.

Shares fell 16 cents to close at $49.15.

© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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