Westport (WPRT) Signs Agreement to Better Serve Indian Market

Table of Contents

Westport Fuel Systems Inc. WPRT recently announced that it has signed a conclusive agreement with its joint-venture partner in India — Uno Minda Group. Per the agreement, Westport Fuel will sell the assets of its wholly-owned Indian subsidiary Rohan BRC Gas Equipment Pvt. Ltd. to Minda Emer Technologies Ltd. Financial terms of the asset purchase and sale have not been disclosed yet.

Rohan BRC Gas Equipment’s core business involves developing and selling compressed natural gas (CNG) pressure reducers to automotive original equipment manufacturers (OEMs). It also sells CNG conversion kits under the “Rohan BRC” brand in India. In the Indian automotive industry, Rohan BRC has an excellent history as the CNG and LPG solution provider to Maruti Suzuki, General Motors GM and many other leading OEMs.

Minda Emer Technologies, a 50:50 joint venture owned by Canada-based Westport Fuel and UNO MINDA, is one of the leading manufacturers of Alternate Fuel Systems — CNG and LPG kits for OEMs and aftermarket in India.

The industrial unit of Rohan BRC Gas Equipment, currently located in Ahmedabad, Gujarat, will be merged with Minda Emer Technology’s manufacturing plant in Manesar, Haryana. With Minda Emer Technologies purchasing the assets of Rohan BRC Gas Equipment, the product lines of both companies will be combined to offer a wider and enhanced selection of CNG products to the Indian automotive market. Minda Emer Technologies anticipates to commence the sale of Rohan BRC products in approximately 30 days.

This transaction between Westport Fuel and Uno Minda will further strengthen their decade-long relationship and provide cost efficiency to both companies. Minda Emer Technologies will become the functional epicenter to better serve the Indian market for passenger cars, commercial vehicles and the large three-wheel vehicle sector.
The CNG vehicle segment’s demand is at its peak in India, given its cost effectiveness and feasibility. By integrating Westport Fuel’s technologies and products with Uno Minda’s local expertise, this partnership will position both companies to tap the ever-growing Indian automotive market, which is one of the fastest expanding markets across the globe, in a cost-friendly manner.
This extended partnership between the companies will help achieve their goal of becoming the best seller for CNG products in the Indian automotive market.

Zacks Rank and Other Stocks to Consider

Westport Fuel currently carries a Zacks Rank #2 (Buy). Shares of the company have declined 31.2% year to date, underperforming its industry’s decline of 0.5%.

Some other top-ranked stocks in the auto space include BRP Inc DOOO and LCI Industries LCII, both flaunting a Zacks Rank of 1 (Strong Buy) at present.

You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of BRP Inc have appreciated 18% year to date, while LCI Industries’ stock has depreciated 0.7%.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don’t buy now, you may kick yourself in 2021.

Click here for the 6 trades >>

Click to get this free report

General Motors Company (GM): Free Stock Analysis Report

Westport Fuel Systems Inc. (WPRT): Free Stock Analysis Report

LCI Industries (LCII): Free Stock Analysis Report

BRP Inc. (DOOO): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

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

Source Article

send message
Iam Guest Posting Services
I Have 2000 sites
Status : Indexed All
Good DA : 20-60
Different Niche | Category
Drip Feed Allowed
I can instant publish

My Services :

1. I will do your orders maximum of 1x24 hours, if at the time I'm online, I will do a maximum of 1 hour and the process is
2. If any of your orders are not completed a maximum of 1x24 hours, you do not have to pay me, or free.
3. For the weekend, I usually online, that weekend when I'm not online, it means I'm working Monday.
4. For the payment, maximum payed one day after published live link.
5. Payment via PayPal account.

If you interesting, please reply

Thank You