Borg-Warner selling its Long Beach unit.

Borg-Warner, a diversified manufacturer with interests in chemicals and auto parts, said it is selling its industrial products business in Long Beach to a group of company executives and a New York investment firm for $240 million cash. The sale of the unit is part of an effort to restructure Borg-Warner, which faces a takeover threat from financier Irwin L. Jacobs. The industrial products group makes fluid control systems, seals and service pumps, largely related to the energy business.