Cummins purchases Westport Fuel Systems’ stake in joint venture
By Bradley Osborne - 8th March 2022
USA / Canada – Westport Fuel Systems Inc, a specialist in alternative fuel engines based in Vancouver, British Columbia, Canada, has announced a share purchase agreement for the sale of its stake in its gas engine joint venture business Cummins Westport Inc with Cummins Inc of Columbus, Indiana, USA. Cummins will buy Westport’s remaining stake and will continue to operate the business as the sole owner.
As part of the agreement, Cummins will also buy Westport’s interest in the joint venture’s intellectual property for USD20m. Formed ten years ago, Cummins Westport Inc of Vancouver specialises in the development of spark ignition gas engines. The original joint venture agreement was terminated on 31 December 2021.