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Westport and Fuel Systems Solutions Announce Merger
VANCOUVER, BC and NEW YORK, NY -- Westport Innovations Inc. and Fuel Systems Solutions Inc. on Tuesday jointly announced the companies have entered into a merger agreement to create an alternative fuel vehicle and engine company. The move comes after the two companies combined lost US$43.7 million in the first half of 2015, according to Transport Topics newspaper. Westport has a publicly stated goal of reaching break even by the middle of 2016 and the merger would only strengthen the company's ability to meet this goal, said a news release. The companies anticipate closing the transaction in the fourth quarter of 2015. Westport and Fuel Systems will operate as separate companies until that time.
Wabco Joins CVSA as Brake Safety Week Nears
ROCHESTER HILLS, MI -- Wabco Holdings Inc. has joined the Commercial Vehicle Safety Alliance (CVSA), the international not-for-profit whose mission is to promote commercial vehicle safety and security by providing leadership on safety issues to law enforcement, industry, and policy makers.
