July 8, 2014 10:27:16 AM
WATER VALLEY -- Transmission maker BorgWarner will expand its north Mississippi plant again, investing $43 million and hiring up to 158 new employees.
It's the fourth time in the past four years that BorgWarner has announced an expansion at the Water Valley plant, which now has 339 employees.
Gov. Phil Bryant and the company announced the latest expansion Monday in the Yalobusha County town.
The Mississippi Development Authority will provide $2.5 million to help with infrastructure needs, along with $200,000 for one-time expenses and worker training. The Tennessee Valley Authority and Yalobusha County also provided undisclosed help.
MDA said the new jobs will pay an average yearly salary of $35,000.
The company said it is expanding production of some transmission systems including Eco-Launch, which allows for the quick automatic transmission function needed when automakers design engines that stop and start quickly to improve fuel economy.
"Technologies such as our Eco-Launch solenoid valve enable our customers to implement stop/start systems that can improve fuel economy by 3 to 10 percent, depending on driving patterns. Our leading technologies enable vehicles to take advantage of these systems with smoother shifts and launches," BorgWarner President and CEO James R. Verrier said in a written statement.
BorgWarner, based in Auburn Hills, Michigan, makes transmissions, all-wheel-drive systems, turbochargers, cooling systems and other engine components.
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