Shares of Westport Fuel Systems’ (NASDAQ: WPRT) nudged higher today on word that the company has closed the sale of the assets of its IMPCO Auxiliary Power Unit (APU) business. After adjusting for projected net working capital, transaction costs, hold back amounts and other deal-related expenses, the net proceeds to Westport Fuel Systems were approximately $60 million. Additionally, the company has entered into an agreement with the purchaser to supply APU systems and parts for about five months.
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About Westport Fuel Systems
Westport Fuel Systems is a company comprised of inventors, engineers, manufacturers and suppliers of advanced clean-burning fuel systems and components that can change the way the world moves. The company’s technology delivers performance, fuel efficiency and environmental benefits to address the challenges of global climate change and urban air quality. Headquartered in Vancouver, Canada, Westport serves its customers in more than 70 countries with global transportation and industrial application brands. For more information, visit www.wfsinc.com.
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