	clayton and dubilier new joint unit to buy firm clayton and dubilier inc and senior management of a unit of borg warner corp bor said it will form a new company to buy borg warner s industrial products group for about mln dlrs borg warner industrial products has sales of about mln dlrs from three divisions which provide advanced technology fluid transfer and control equipment systems and services worldwide clayton said the new company will have employees and be headquartered in long beach calif the company said peter valli vice president of borg warner corp and president of its industrial products division will become president and chief executive officer of the new company according to clayton clayton a private investment firm said this was the third mangement buyout of a divestiture completed by them since december reuter 
