Two Detroit-area auto suppliers predict growth

Alisa Priddle / The Detroit News

Two Detroit-area auto suppliers are predicting growth next year, with much of it coming from outside the United States.

Southfield-based Lear Corp. on Monday emerged from bankruptcy with less debt and a positive outlook on the international market; while Auburn Hills-based BorgWarner Inc. said it expects $1.8 billion in new business in the next three years with most of that coming in Asia and Europe.

Lear, which filed for Chapter 11 in July, shed about $2.8 billion in debt. The company said it now has less than $1 billion in debt and more than $1 billion in cash.

"We have moved through the financial restructuring process without missing a beat operationally," Chief Executive Bob Rossiter said in a release.

The supplier of seats, electrical systems and electronics said more than half of new business comes from outside North America. It will report its third-quarter earnings on Wednesday.

Separately, BorgWarner, which supplies fuel-efficient technology for engines and transmissions, said Monday from 2010 through 2012, the supplier of gasoline and diesel turbochargers and dual-clutch transmissions expects to launch 80 percent of its new programs in Asia and Europe. The supplier said its growth should outpace the industry.

"Despite the historic change in the automotive industry over the past 18 months, the emphasis on lowering emissions and improving fuel economy has remained constant," said Chief Executive Timothy Manganello. Last month, BorgWarner reported a third-quarter profit of $17.2 million, compared with a loss of $130.4 million during the same period in 2008.