NetworkNewsBreaks – Westport Fuel Systems (NASDAQ: WPRT) Signs Definitive Agreement to Sell its APU Assets for $70M; Shares Rally

Westport Fuel Systems (NASDAQ: WPRT) shares jumped 16% this morning after the company said it has entered into a definitive agreement to sell the assets of its Auxiliary Power Unit (APU) business for $70 million. The sale is consistent with the company’s strategy to streamline its business and focus on alternative fuel solutions for the transportation and automotive industries. The transaction is expected to close within a few weeks. “After a careful assessment of the APU product line and its fit with the other Westport Fuel Systems businesses, we decided it made the most sense for our shareholders to pursue this sale,” CEO Nancy Gougarty stated in the news release.

To view the full press release, visit: http://nnw.fm/LE5ej

About Westport Fuel Systems

Westport Fuel Systems engages in inventing, engineering, manufacturing and supplying advanced clean-burning fuel systems and components that can change the way the world moves. The company’s technology delivers performance, fuel efficiency and environmental benefits to address the challenges of global climate change and urban air quality. Headquartered in Vancouver, Canada, the company serves customers in more than 70 countries with global transportation and industrial application brands. For more information, visit www.wfsinc.com.

About NetworkNewsBreak

NetworkNewsBreak (NNB) provides a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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