BORG-WARNER <BOR> TO SELL UNIT FOR 240 MLN DLRS Borg-Warner Corp said it agreed to sell its industrial products group to <Clayton and Dubilier Inc> and senior management of the group, for about 240 mln dlrs. Clayton and Dubilier is a New York-based private investment firm, which has completed two other management-led buyout transactions since December 1986. Borg-Warner's industrial products group, based in Long Beach, California, has sales of about 300 mln dlrs and employs about 3,000 staff. Its businesses include standard and custom engineered centrifugal pumps and mechanical seals for the petroleum industry and advanced controls for the aerospace and defense industries. The sale is part of Borg-Warner's planned restructuring. the proposed sale is subject to approval by Borg-Warner's directors, it said.