VANCOUVER, BC – Westport Innovations Inc. (TSX:WPT/ NASDAQ:WPRT), a global leader in alternative fuel, low-emissions transportation technologies, today announced that Clark Material Handling Asia Ltd. (Clark) has selected Juniper Engines Inc. (Juniper) to supply 2.4L liquefied petroleum gas (LPG) engines for Clark’s forklifts in the 1.5 to 3.3 tonne product range. Juniper’s 2.4L engine recently achieved emissions certification by the U.S. Environmental Protection Agency (EPA) for U.S. customers and is expected to commence shipping in the first half of 2010. Juniper’s products will be assembled in Korea and delivered to Clark’s Korean facility to be installed into forklifts sold in North America, as well as other export markets.
“The combination of Juniper’s advanced engine which offers performance benefits for our customers, and strong engineering and customer support made our decision very straightforward,“ said Mr. Y. E. Kim, Purchasing Manager of Clark.
“Clark is an industry leader in product durability and customer support, and recognizes that Juniper’s advanced performance and reliability combined with world class service is a winning combination,” said Ian Scott, President of Juniper Engines Inc. “Our supply agreement with Clark marks the launch of our EPA-certified and non-certified engine solutions to a global customer base.”
Worldwide, Clark has one of the broadest product lines in the materials handling industry. Clark Material Handling Asia designs, manufactures, distributes, and supports 1.5 to 7.5 tonne internal combustion forklifts and 1.0 to 3 tonne counterbalanced and reach machines from its 312,000 sq. ft. facility in Changwon, Korea. Clark has over 550 dealer locations worldwide with dealer representation in more than 80 countries servicing approximately 350,000 units in operation.
Juniper Engines Inc. is a joint venture between wholly owned subsidiaries of Westport Innovations Inc. and SIT Group of Italy. Juniper's initial products are 2.4 litre and 2.0 litre LPG and CNG engine solutions for industrial applications such as forklifts. The company has sales and engineering support in North America, Europe, and Asia. The Juniper products are based on proven heritage and innovation to yield customer satisfaction resulting from higher achieved performance, reliability and durability, customer support and technical innovation. www.juniperengines.com
Westport Innovations Inc. is a leading global supplier of proprietary solutions 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. Cummins Westport Inc., Westport’s joint venture with Cummins Inc., manufactures and sells the world's broadest range of low-emissions alternative fuel engines for commercial transportation applications such as trucks and buses. BTIC Westport Inc., Westport’s joint venture with Beijing Tianhai Industry Co. Ltd., manufactures and sells LNG fuel tanks for vehicles. Westport’s joint venture with OMVL SpA, Juniper Engines Inc., offers light-duty liquefied petroleum gas (LPG) engine solutions for industrial applications such as forklifts. www.westport.com
Note: This document contains forward-looking statements about Westport’s business, operations, technology development or the environment in which it operates, including statements relating to the production, efficiency, performance, emissions, benefits, timing, systems and processes and demand for products, which are based on 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 Westport’s control and are discussed in Westport’s most recent Annual Information Form and filings with securities regulators. 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. 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.
At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global automotive industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America and South America, 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.
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.
Net income from continuing operations of $4.9 million and Adjusted EBITDA of $9.4 million due to revenue growth and operating cost reductions
Westport Fuel Systems Inc. announced today that it will disclose its financial results for the third quarter ended September 30, 2019 on Thursday, November 7, 2019 after market close.
Westport Fuel Systems today announced that it has reached a settlement fully resolving the SEC’s investigation.
Westport Fuel Systems today announced they have been invited to present at the 8th Annual Gateway Conference, which is being held September 4-5, 2019 at the Four Seasons Hotel in San Francisco, California
Westport Fuel Systems Appoints Richard Orazietti as Chief Financial Officer