UPDATE: Westport Announces Amended Cummins Westport Joint Venture Agreement; Shares Rise Almost 5%

By MidnightTrader.com Staff,

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Westport Innovations Inc. (WPT.TO), a global leader in natural gas engines that has been trading near year highs, today announced that it has entered into an amended and restated joint venture agreement ( JVA ) with Cummins Inc. for the Cummins Westport Inc. ( CWI ) joint venture. The JVA was amended to provide for, among other things, clarification concerning the scope of products within CWI. In addition, the parties have revised certain economic terms of the JVA.

In a separate announcement, CWI today announced the commercial launch of a new 12 litre natural gas engine based on the successful Cummins ISX12 diesel platform

About 80,000 Westport shares have changed hands.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: CWI , JVA

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