published: September 26, 2016
VANCOUVER, BC — Westport Fuel Systems Inc. (“Westport Fuel Systems”) (TSX:WPT / Nasdaq:WPRT) announced that Scott R. Mackie, President of Qualitor Inc.’s International Brakes Industries division—a leading diversified supplier of safety and wear parts for the automotive aftermarket—has been appointed to the Board of Directors of Westport Fuel Systems. In connection with this appointment, Dr. Dezso J. Horvath, one of Westport Fuel Systems’ current directors, will step down from the Board. Mr. Mackie’s appointment and Dr. Horvath’s resignation are effective from today, September 26, 2016.
“Scott joins us at an important time in the evolution of our company and his depth of experience in the automotive sector will provide additional strength to our Board,” said Dr. Warren Baker, Chairman of the Board.
Mr. Mackie joined Qualitor in April 2016 and most recently served as vice president of business development and mergers and acquisitions for Navistar Inc. Prior to that, he was president and CEO of Weld Racing, a global leader in forged aluminum racing and street performance wheels. In addition, during a 30-year career with General Motors he held several senior executive leadership roles in North America and Europe including six years as general manager of ACDelco’s global operations. He holds a Bachelor of Science in mechanical engineering from General Motors Institute (Kettering) and a Master of Business Administration from The University of Chicago.
“On behalf of the Board, I would like to thank Dezso for his energy, commitment and contributions to Westport Fuel Systems over the past 15 years,” said Dr. Baker. “With his proven expertise, global recognition in strategy development, and his leadership of the Human Resources and Compensation Committee, he has made great contributions to the company’s success and growth. We wish him well in his future endeavors.”
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.
Delivers Positive Adjusted EBITDA
Westport Fuel Systems Inc. announced today that it will disclose its financial results for the second quarter ended June 30, 2018 on Thursday, August 9, 2018 after market close.
Westport Fuel Systems Inc. today announced that it has completed the sale of its compressed natural gas compressor business to Snam S.p.A., a leading European gas utility company, for total proceeds of 12.3 million Euro, net of a 500,000 Euro holdback to be released upon fulfillment of an independent audit process to be completed within 30 business days.
Westport Fuel Systems Inc. today announced the appointment of Mike Willis as Chief Financial Officer ("CFO") effective June 11, 2018. Ashoka Achuthan, Westport Fuel Systems current CFO, will step down from his position but continue to serve as an advisor to the leadership team through a transition period.
Revenue Guidance Adjusted to Reflect Sale