- Westport Fuel Systems (WPRT) is preparing to acquire Stako, a world leader in the manufacturing of liquified petroleum gas fuel storage
- Westport will acquire the company, a subsidiary of Worthington Industries, in a transaction valued at €5 million
- Based in Słupsk, Poland, Stako’s current product range includes over 1,000 models of LPG storage tanks
- Over the last 30 years, the company has supplied tanks to VW, Renault, Fiat, Hyundai, Opel, Ford, Maruti Suzuki and many others
- Westport Fuel Systems is a leading supplier of advanced fuel delivery components and systems
- Westport Fuel Systems (WPRT) is up by 1.51 per cent and is currently trading at $7.735 per share
Westport Fuel Systems (WPRT) is preparing to acquire Stako, a world leader in the manufacturing of liquified petroleum gas fuel storage.
Westport will acquire the company, a subsidiary of Worthington Industries, in a transaction valued at €5 million.
Based in Słupsk, Poland, Stako’s current product range includes over 1,000 models of LPG storage tanks.
Over the last 30 years, the company has supplied tanks to leading automobile manufacturers including VW, Renault, Fiat, Hyundai, Opel, Ford, Maruti Suzuki and many others.
With almost 27 million vehicles powered by LPG globally, it is the most common alternative fuel used in the world today. This is due to price advantages to operating an LPG vehicle versus equivalent models fueled by petrol or diesel.
David M. Johnson, CEO of Westport Fuel Systems, commented,
“The acquisition of Stako represents a fundamental step towards our ability to supply completely integrated fuel systems. As a foremost global supplier of alternative fuel systems, we are well-positioned to offer a range of industry-leading solutions to prominent global OEMs.
LPG and bioLPG emit less CO2 and pollutant emissions such as NOx than diesel and petrol, and support the transition to cleaner fuels, particularly in emerging markets where supply and existing infrastructure investment for LPG is substantial.”
Westport Fuel Systems is a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels to the global automotive industry.
Westport Fuel Systems (WPRT) is up by 1.51 per cent and is currently trading at $7.735 per share as of 11:25 am ET.