Mahle Buys Plymouth Facility for $12 Million,
Impco Assets in Indiana Are Shifted to Dallas
Germany- and UK-headquartered Mahle Powertrain has acquired Westport Fuel Systems’ Michigan Tech Center for $12 million – $11.5 million “received in cash with the remaining to be received as in-kind strategic value including access to test cells, facility space and other supporting equipment.”
Westport has “identified opportunities for synergies and greater operating efficiency,” new CEO Nancy Gougarty said in a Monday release.
“This sale is just one example,” she said.
Union City Assets Sold Too
Westport said that in addition to selling the Michigan facility, it has realized proceeds from selling assets in Union City, Ind. (an Impco operation acquired via this year’s merger with Fuel Systems Solutions, Inc.) – and relocated operations there to Dallas.
Westport said that it’s negotiated rights to “maintain and even accelerate development programs at Plymouth,” which served as a center of excellence for “ESI” – enhanced spark-ignited natural gas engine development.
Westport said this morning that it will disclose its financial results for the second quarter ended June 30 on Tuesday, August 9.
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Source: Westport Fuel Systems with Fleets & Fuels follow-up