published: August 31, 2009
VANCOUVER, BC & DENTON, TX – Peterbilt Motors Company announced that the company is taking immediate orders for the production of its vocational and aerodynamic vehicles powered by compressed and liquefied natural gas (NG). The Model 365 and Model 384 will be offered with the Cummins Westport ISL G and built at Peterbilt’s truck manufacturing facility in Denton, Texas.
“Our Models 365 and 384 are examples of Peterbilt’s commitment to delivering products that will reduce harmful emissions and provide the performance and overall value our customers need,” said Bill Jackson, Peterbilt General Manager and PACCAR Vice President. “These two NG powered platforms join Peterbilt’s three medium duty hybrid electric vehicles currently in production to offer the widest range of environmental friendly options to our customers.”
The Peterbilt Model 365 NG features innovative solutions to improve ride and handling, enhance weight distribution as well as maximize performance and profitability without sacrificing overall efficiency. The Model 365 NG is equipped with the powerful ISL G providing a 320 horsepower rating and 1,000 lb-ft of torque. The Model 365 has a 115” BBC, and is available in both set-forward and set-back axle configurations and sets the standard for quality, durability, productivity and environmental responsibility.
The Cummins Westport’s ISL G powered Model 384 provides the industry’s cleanest burning aerodynamic platform with the power and performance to meet the needs of a wide variety of customer applications including line, bulk and tanker hauling. Additionally, the Peterbilt Model 384 has been recognized as fuel efficient and environmentally-friendly by the EPA’s SmartWay program. Peterbilt is dedicated to providing its customers the latest advances in aerodynamic design and engineering combined with the latest alternative fuel technologies.
Cummins Westport’s ISL G natural gas engine for heavy-duty Class 8 trucks allows trucking fleets to move to lower-cost, domestically available natural gas and/or biogas while offering industry-leading emissions, including lower greenhouse gas emissions, than comparable diesel engines. Based on the Cummins ISL diesel engine with cooled EGR, the NG version integrates robust diesel components into an engine specifically designed for alternative fuels and offers similar horsepower, torque, and efficiency as the base diesel engine it is replacing. The engine is certified to the toughest global emissions standards and meets U.S. EPA and CARB 2010 emissions standards today.
The Cummins Westport ISL G engine can be fuelled by either a compressed natural gas (CNG) or liquefied natural gas (LNG)— both are cost effective, low carbon, and low emissions fuel—and is available with a 320 horsepower rating and a 1,000 lb-ft torque rating for heavy-duty port, freight and vocational applications. CNG or LNG fuel tanks can be configured to suit customer applications and range requirements. NG heavy-duty trucks are eligible for federal tax credits in the United States and may be eligible for other state-specific emissions credits. For more information about Cummins Westport and the ISL G visit www.cumminswestport.com.
Cummins Westport Inc. designs, engineers and markets 6–12 liter spark-ignited natural gas engines for North American commercial transportation applications such as trucks and buses. Cummins Westport is a joint venture of Cummins Inc. (NYSE:CMI), a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems, and Westport Fuel Systems Inc. (NASDAQ/TSX: WPRT), a global leader in alternative fuel, low-emissions technologies that allow engines to operate on clean-burning fuels such as compressed natural gas (CNG), liquefied natural gas (LNG), hydrogen, and biofuels such as landfill gas. For more information, visit www.cumminswestport.com.
Based in Denton, Texas, Peterbilt Motors Company combines a global reputation for industry leading design, innovative engineering and fuel efficiency solutions, with superior quality to engineer a truck that stands as the "Class" of the industry. Through its 247-plus North American dealer locations, Peterbilt also provides a comprehensive array of TruckCare® programs to support its full lineup of vehicles, including hybrids, with aftermarket support programs. Customers enjoy industry leading service and support, including preventive maintenance plans, expedited QuickCare services, automated parts inventory replenishment and 24/7 complimentary Customer Assistance through 1-800-4-Peterbilt. For more information about Peterbilt, visit www.peterbilt.com.
This document contains forward-looking statements, including statements regarding the demand for our products, the future success of our business and technology strategies, investment, cash and capital requirements, intentions of partners and potential customers, the performance and competitiveness of our products and expansion of product coverage, future market opportunities, speed of adoption of natural gas for transportation, growth in demand as a result of new emission standards and terms of future agreements. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance or achievements expressed in or implied by these forward looking statements. These risks and assumptions include risks and assumptions related to our revenue growth, operating results, industry and products, the general economy, conditions of and access to the capital and debt markets, governmental policies and regulation, technology innovations, fluctuations in foreign exchange rates, global government stimulus packages, the acceptance of natural gas vehicles in fleet markets, the relaxation or waiver of fuel emission standards, the inability of fleets to access capital or government funding to purchase natural gas vehicles, the sufficiency of bio methane for use in our vehicles, the development of competing technologies as well as other risk factors and assumptions that may affect our actual results, performance or achievements or financial position discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward looking statements except as required by National Instrument 51-102.
Early Termination of Debenture Tender Offer and Cancellation of Meeting of Debentureholders
Enhanced Liquidity and Continued Execution on Stated Goals
To coincide with the disclosure, Westport Fuel Systems has also scheduled a conference call on Monday, August 14, 2017 at 2:00 pm Pacific Time (5:00 pm Eastern Time).
Westport Fuel Systems Inc. announced today the exercise of the underwriters' option from its previously announced offering to purchase an additional 2,425,000 common shares at the Offering price of US$1.50 per share. With the exercise of the option, Westport issued a total of 19,125,000 common shares under the offering for gross proceeds of US$28,687,500.
Westport Fuel Systems Inc. announced today the closing of its previously announced offering of 16,700,000 common shares at a price of US$1.50 per share, for gross proceeds of US$25,050,000.