VANCOUVER, BC – Westport Fuel Systems Inc. (“Westport Fuel Systems”) (TSX:WPRT / Nasdaq:WPRT) announced today that it has terminated the previously announced tender offer for Westport Fuel Systems 9% unsecured subordinated non-convertible debentures (the “Debentures”) effective immediately. Prior to cancellation of the tender offer, an aggregate of Cdn.$4,838,000 principal amount of Debentures were tendered to the offer and will be acquired by Westport Fuel Systems. Westport Fuel Systems expects to repay the remainder of the Debentures on their original maturity date of September 15, 2017.
In connection with the cancellation of the tender offer, Westport Fuel Systems has additionally cancelled the meeting of holders of Debentures previously scheduled for September 14, 2017.
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.
Clarifies statements regarding its Weichai Westport Inc. joint venture and WWI's 12-liter engine equipped with the HPDI 2.0™ fuel system
Westport Fuel Systems Inc. today announced that its Weichai Westport Inc. joint venture has received certification from the Ministry of Ecology and Environment of China for its 12-liter engine equipped with the HPDI 2.0 fuel system
Transaction Provides Cost Efficiencies and Greater Product Choice for Customers
Estimated revenue of US$58 million over seven-year period
Further strengthens liquidity of Emer S.p.A in Brescia, Italy
The Maruti Suzuki WagonR S-CNG has emerged as the highest selling natural gas vehicle in the country, as this greener and safer factory-fitted CNG model has surpassed 300,000 units in sales.
Egypt has launched an ambitious plan to shift the primary fuel for vehicles in its jurisdiction from petrol and diesel to compressed natural gas.
Natural gas vehicles (NGV) may get a boost as power markets and renewable equipment production are seen as potential casualties.
The statistics not only show continuously growing sales of CNG and especially liquefied natural gas fueled vehicles, but also the growth of corresponding fueling infrastructure.
Simeon’s gas-powered Volvo is used to transport gas for partners. Stenberg is pleased with the new tractor unit.