Westport Fuel Systems to sell CNG compressor business

|About: Westport Fuel Systems Inc. (WPRT)|By:, SA News Editor

Westport Fuel Systems (WPRT +1.1%) agrees to sell its compressed natural gas compressor business based in Italy to Snam for €12.5M.

WPRT says the sale is part of its strategy to streamline its business and product lines, focusing on supplying alternative fuel vehicle components and systems to the transportation industry.

As a result of the sale, WPRT will reclassify results from the CNG compressor business to discontinued operations when reporting for the full year; the company revises its FY 2018 consolidated revenue guidance from continuing operations to $235M-$255M.

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