Westport Innovations to expand operations
VANCOUVER, B.C. — To help meet the growing demand for liquefied natural gas fuel systems and engine conversions, Westport Innovations is opening a new assembly plant in Vancouver, B.C., a facility estimated to cost about $3 million.
Westport workers will start moving to the 20,000 sq.-ft. facility in about two weeks, according to the company president.
“We will be assembling in some volume here in British Columbia, an array of LNG fuel systems, which will include engines with our Westport injectors as well as LNG tanks and pumps and full fuel systems,” Mike Gallagher told media.
Westport also reported a third-quarter profit of $7.4 million, boosted by the sale of the company’s stake in its research spin off, Wild River Resources Ltd., and a third of a stake in its natural gas firm, Clean Energy.
Net income for the quarter ending Dec. 31 was seven cents per diluted share, contrasting with a loss of $5.8 million, or eight cents, a year earlier. The results include a $9.4 million gain on the sale of long-term investments, including the sale of approximately 600,000 of Westport’s two million shares of Clean Energy Fuels Corp. and the sale of substantially all of Westport’s shares of Wild River.
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