VANCOUVER, BC – Cummins Westport Inc. (“CWI”) today announced changes to its Board of Directors and Management in accordance with the terms of the 50/50 Joint Venture Agreement between Cummins Inc. (“Cummins”) (NYSE:CMI) and Westport Fuel Systems Inc. (“Westport Fuel Systems”) (TSX:WPRT/NASDAQ:WPRT). The changes are effective as of January 1, 2018.
Changes to the Management Team are:
Board of Directors changes are:
In addition to Ms. Thompson and Mr. Arthurs, the following have been elected to the CWI Board of Directors for a one year term:
Dean Cantrell of Cummins and Thomas Rippon of Westport Fuel Systems have stepped down from the Board.
“The Board of CWI would like to sincerely thank Rob Neitzke and Pervez Akhtar for their strong leadership of the business over the past three years,” said Jim Arthurs, Chairman of CWI. “During that period CWI has sold over 23,000 natural gas engines and continued to successfully penetrate key markets including transit buses, refuse collection trucks and on-highway trucks. CWI has developed and is launching a new range of natural gas engines for 2018 that set new standards for performance and reliability while offering near-zero emissions. The Board would also like to thank Dean Cantrell and Thomas Rippon for their years of service and contribution to CWI. Their financial and engineering expertise will be missed.”
“We welcome Bart van Aerle, Chad Mobley, Timo Lehtiniitty and Jim Mancuso to their new roles with CWI,” stated Lori Thompson, Chairman-elect. “All of them bring excellent skills and experience to the CWI team and we look forward to continued growth and success of the business.”
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.
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.
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