published: December 18, 2013
VANCOUVER — Cummins Westport Inc. (CWI) today announced that Gordon Exel, Westport Vice President, Sales and Marketing, has been appointed as President of CWI effective January 1, 2014 for the final year of Westport's three year term to nominate the President.
"Gordon's experience with Cummins Westport and solid understanding of the customers and markets are key assets that will contribute to the ongoing success of Cummins Westport," said Ed Pence, Cummins Vice President and General Manager, High Horsepower Engine Business, and Chairman of CWI.
Gordon joined Westport in 2002 as Vice President and General Manager Americas for CWI and spent 10 successful years at CWI. In 2012, he moved to Westport's European office in Lyon France, as Vice President, Sales and Marketing. Previous to Westport, Gordon was a Vice President in the banking information technology industry following a career at Xerox where he progressed into his last role as General Manager Channels Business. He has an MBA in Digital Technology Management from Royal Roads University in Canada.
Jim Arthurs, current CWI President, will be returning to a senior leadership position at Westport.
On December 5, 2013, the directors of CWI were elected for the 2014 term. Effective January 1, 2014, the CWI board of directors will be comprised of
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.
This document contains forward-looking statements about Cummins Westport's business, operations, technology development or to the environment in which it operates, which are based on Cummins Westport's estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, or are beyond Cummins Westport's control. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. Cummins Westport disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable securities legislation.
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.