VANCOUVER, BC - Westport Fuel Systems Inc. (“Westport Fuel Systems” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today announced the decision to temporarily suspend production in its Brescia, Italy facility effective immediately. The Company’s Italian operations in Cherasco and Albinea continue to operate under the highest and most stringent standards for health and safety in line with the Italian Government’s guidance, decrees and directives on COVID-19. The Company intends to reassess the production suspension at its Brescia facility in two weeks.
Given the capabilities of the organization and the opportunities provided by smart working, all non-manufacturing activity will continue on a regular basis.
"The health and well-being of our global team of employees is our utmost priority"
"Our team in Italy has responded to this unprecedented challenge with resilience, determination, and care for each other. In the last three weeks, our Italian leadership team and employees have worked tirelessly to ensure continued and seamless operations at our three facilities and were able to manufacture and ship without any disruption to customers”, said David M. Johnson, Chief Executive Officer of Westport Fuel Systems.
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.
We will participate in the alphaDIRECT Virtual Conference Series to provide a business update relating to the impact of COVID-19 on global operations on Tuesday April 14, 2020 at 1:00 pm Pacific Time.
In response to the ongoing global COVID-19 pandemic, we will host its upcoming Annual and Special Meeting of shareholders in a virtual only format, April 29, 2020 at 10:00 am Pacific Time.
$6.0 Million of Principal Payments Deferred to Improve Liquidity
Westport Fuel Systems today announced it will temporarily suspend production at its facilities in Cherasco and Albinea, Italy.
Strong 2019 Financial Performance