Westport buys Prins to broaden technology base and to exploit opportunities in new geographical markets

摘要

Canada/Netherlands - Natural gas injections systems supplier, Westport Innovations Inc of Vancouver, Canada, has acquired fellow alternative fuel systems supplier and components, Prins Autogassystemen Holding BV (Prins) of Eindhoven, The Netherlands for EUR12.2m (USD 15.m); this payment comprised EUR6.6m in assumed liabilities and EUR5.6m (USD6.9m) in cash. Founded in 1986, Prins is a developer of high quality alternative fuel systems powered by liquefied petroleum gas (LPG or propane), compressed natural gas (CNG), and liquefied natural gas (LNG) for light-, medium-, and heavy-duty applications. Prins' operation in Europe is to be combined under the Westport Applied Technologies business unit. Mehran Rahbar, executive vice president, On-Road Systems & Applied Technologies of Westport comenting on the acquisition said: "Prins' globally respected product line, their strong track record in continuous innovation and new product introductions combined with its original equipment manufacturer (OEM) relationships complement our products and OEM coverage to provide us with a great position as the go-to partner for alternative fuels solutions. Westport has a great deal of experience with natural gas direct injection and believes that the combination of Prins' and Westport's team and technologies will further strengthen Westport's dominant technology portfolio." Rahbar added: "Based on my experience, this acquisition is a significant opportunity for Westport to scale, innovate, and derive sales and operations synergies from the combined business."