BorgWarner says Phinia spinoff to begin trading in July

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BorgWarner Inc. shares fell 1.9% in the aftermarket Tuesday after the auto-parts supplier said the spinoff of its fuels systems Phinia Inc. is on track for early July. BorgWarner announced the spinoff in December. “The intended separation supports advancing our electrification journey and optimizing our combustion portfolio and will best position BorgWarner for sustainable and profitable growth,” the company said in a letter to shareholders Tuesday. “As separate companies, both businesses will benefit from enhanced strategic focus and flexibility to pursue their differentiated market opportunities and deliver significant…

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