ACT News 2017


Westport Buys BAF from Clean Energy

June 28, 2013 in CNG, Companies, LNG, NGVs by Rich Piellisch  |  No Comments

‘Amalgamation Will Create Largest Product Portfolio & Market Presence’

Westport Innovations has acquired BAF Technologies and its ServoTech Engineering subsidiary from Clean Energy Fuels for $25 million in Westport stock and a $5 million joint marketing and sales program.

this item, posted immediately following
Westport’s announcement on June 28,
was substantially updated on June 29

The Westport acquisition of BAF Technologies includes BAF’s 90,000-square-foot headquarters and vehicle upfit facility in Dallas, which was opened in April 2012.

The Westport acquisition of BAF Technologies includes BAF’s 90,000-square-foot headquarters and vehicle upfit facility in Dallas, which was opened in April 2012.

According to Westport, “the amalgamation will create the largest product portfolio and largest market presence in the North American light duty natural gas vehicle space.

“Specifically, Westport secures its position as Ford’s largest partner under the Qualified Vehicle Modifier (QVM) program with over 10 products and approximately 150 Ford authorized dealerships. The transaction allows both Westport and Clean Energy to focus on the significant growth opportunities as natural gas emerges as a global fuel for transportation.”

Westport Innovations (Toronto:WPT and NASDAQ:WPRT).

Clean Energy Fuels (NASDAQ:CLNE).


-------------------------------
Contact information is only available to premium subscribers. Click here to purchase a subscription.

Source: Westport Innovations with Fleets & Fuels follow-up

Posted in CNG, Companies, LNG, NGVs and tagged , , , .

Leave a Reply

Your email address will not be published. Required fields are marked *


  • Archives