Phinia acquires SEM to enhance alternative fuel technology portfolio

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M&A

PHINIA's acquisition of Swedish Electromagnet Invest AB (SEM) aims to expand its market reach and foster innovation in sustainable fuel technologies.

Phinia, the spinoff company of the fuel systems and aftermarket segments of Michigan, US-based powertrain technologies supplier BorgWarner, has successfully acquired Swedish Electromagnet Invest AB (SEM).

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