VANCOUVER, BC – Pursuant to the Italian Government’s decree issued on March 22, 2020 regarding COVID-19, Westport Fuel Systems Inc. (“Westport Fuel Systems” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today announced it will temporarily suspend production at its facilities in Cherasco and Albinea, Italy. The directive is in effect until April 03, 2020. The temporary suspension of the Company’s production in Brescia, Italy announced on March 16, 2020, will be extended to align with this latest directive.
"The health and well-being of our global team of employees is our utmost priority"
"Our Italian team has shown tremendous resilience during this difficult time and we support government efforts to act decisively to mitigate the impact of the pandemic”, 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