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BORG-WARNER REDEEMS DEBENTURES; AUTOMOTIVE OPERATIONS BECOME INDEPENDENT

 CHICAGO, Jan. 27 /PRNewswire/ -- Borg-Warner Security Corp. (NYSE: BOR) today completed the previously announced spin-off of its automotive business as an independent company. Borg-Warner Automotive, Inc., a leading manufacturer of highly engineered automotive components and systems, will remain a privately held company, headquartered at 200 South Michigan Avenue, Chicago.
 Borg-Warner Security Corp. (formerly Borg-Warner Corp.) also announced today that it will redeem $66.7 million principal amount of its outstanding 13 percent junior subordinated discount debentures due 2007 and $15.2 million of its outstanding 12-3/4 percent senior subordinated debentures due 1997. The designated redemption date for the debentures is Feb. 26, 1993. After the redemption, approximately $150 million of the 13 percent junior subordinated discount debentures will remain outstanding. There will be no outstanding 12-3/4 percent senior subordinated debentures after the redemption.
 The spin-off of Borg-Warner Automotive, Inc. and the redemptions of debentures are elements of a recapitalization program that included an initial public offering of Borg-Warner Security Corp. shares to the public. Borg-Warner Security Corp. common stock is listed on the New York Stock Exchange and began trading on Jan. 20 under the symbol "BOR."
 Borg-Warner Security Corp. is the nation's largest and broadest- based supplier in the protective services industry. The company provides guard, alarm, armored transportation and courier services provided under the Wells Fargo, Burns and Pony Express names.
 -0- 1/27/93
 /CONTACT: Joseph Allen of Borg-Warner Security Corp., 312-322-8836/
 (BOR)


CO: Borg-Warner Security Corp.; Borg-Warner Automotive, Inc. ST: Illinois IN: AUT SU:

PS -- NY077 -- 9678 01/27/93 12:44 EST
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Publication:PR Newswire
Date:Jan 27, 1993
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