published: October 31, 2017
VANCOUVER, BC – Westport Fuel Systems Inc. (“Westport Fuel Systems”) (TSX:WPRT / Nasdaq: WPRT) announced today that BRC Gas Equipment (“BRC”) was awarded a competitive tender bid by Algeria’s National Company for Petroleum Products Marketing and Distribution (“NAFTAL”) to supply 40,000 liquid petroleum gas (“LPG”) sequential injection systems to be delivered into the growing Algerian market in 2018.
“This is the largest tender we have received from NAFTAL to date, proving the competitiveness and quality of BRC LPG systems,” said Andrea Alghisi, Westport Fuel Systems Chief Operating Officer, Automotive. “We are pleased to be the preferred partner of NAFTAL to support their strategic program for the expansion of LPG use in one of the world’s most promising alternative fuel markets.”
Since 2002, BRC has been awarded multiple tenders from NAFTAL for a combined total of 65,000 LPG systems. With the addition of this recent tender mentioned above, a total of 105,000 LPG systems will be delivered to NAFTAL by end of 2018.
According to NAFTAL statistics, Algeria has close to 260,000 LPG vehicles or about 8% of the total passenger cars making it the largest population of LPG vehicles in Africa.
NAFTAL is an Algerian subsidiary of Sonatrach Group, which is ranked among the top 15 oil companies in the world. Specializing in the distribution of petroleum products, NAFTAL is the first company in Africa that has embarked on the conversion of gasoline engines to LPG, since the 1980s. Currently, Algeria has close to 260,000 LPG vehicles and this figure is expected to increase to 1,000,000 vehicles in 2025 as the Algerian government works to reduce the consumption of polluting fuels and promote clean fuels.
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.
BRC Gas Equipment is a well-established brand owned by Westport Fuel Systems Inc. with sole distributors in more than 70 countries and an extensive network of installation centres. Based in Cherasco, Italy, BRC Gas Equipment develops, manufactures and markets components and systems for converting vehicles from petrol to LPG and compressed natural gas. To learn more about BRC, visit: http://www.brc.it/en/
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
Performance on Track
Westport Fuel Systems Inc. held its Annual and Special Meeting of Shareholders on Monday, May 7, 2018 in Toronto, Ontario.
Westport Fuel Systems Inc. announced today that it will disclose its financial results for the first quarter ended March 31, 2018 on Friday, May 11, 2018 before market open. To coincide with the disclosure, Westport Fuel Systems has also scheduled a conference call for Friday, May 11, 2018 at 8:30 am Eastern Time.