published: May 1, 2017
VANCOUVER, BC – Westport Fuel Systems Inc. (“Westport Fuel Systems”) (TSX:WPRT / Nasdaq:WPRT) today announced the closing of its previously announced sale of the assets of its IMPCO Auxiliary Power Unit (“APU”) business. Net proceeds to the company at closing were approximately $60 million US dollars, after adjusting for estimated net working capital, transaction costs, hold back amounts and other deal related expenses. Westport Fuel Systems has entered into an agreement to supply APU systems and parts to the purchaser for approximately 5 months.
At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are inventors, engineers, manufacturers and suppliers of advanced clean fuel systems and components that can change the way the world moves. Our technology delivers performance, fuel efficiency and environmental benefits to address the challenges of global climate change and urban air quality. Headquartered in Vancouver, Canada, we serve our customers in more than 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.
Transformative Year: Well Positioned for 2018 with Market-Ready Solutions
Westport Fuel Systems Inc. announced today that it will disclose its financial results for the fourth quarter and year ended December 31, 2017 on Friday, March 23, 2018 before market open. To coincide with the disclosure, Westport Fuel Systems has also scheduled a conference call for Friday, March 23, 2018 at 8:30am Eastern Time (5:30am Pacific Time).
Westport Fuel Systems Inc. today announced Michele Buchignani has been appointed to the company’s Board of Directors, effective March 16, 2018. The appointment of Ms. Buchignani, who was previously a member of Westport Fuel Systems Advisory Board, increases the number of directors from 9 to 10.
AVL Endorses Higher Pressure HPDI System Enabling Future Efficiency and Performance Demands
Cummins Westport Inc. announced today that it has received certifications from both the U.S. Environmental Protection Agency and Air Resources Board in California for its 2018 ISX12N natural gas engine.