BorgWarner settles patent dispute with Honeywell


CHICAGO, June 23 (Reuters) - Auto parts maker BorgWarner Inc. on Monday said it settled a patent dispute with Honeywell International Inc. for $29.1 million and confirmed its 2003 earnings forecast. BorgWarner said the two sides settled the dispute over turbochargers by extending a licensing arrangement through 2006. Payments will be made in 2003 through 2005, BorgWarner said in a statement. BorgWarner also confirmed its 2003 earnings per share forecast in the range of $6.20 to $6.35.

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