Fuel Systems Solutions, Inc. (“Fuel Systems” or “the Company”)
(Nasdaq:FSYS) today announced that at the Company’s special meeting of
stockholders held earlier today, Fuel Systems stockholders voted to
approve the Company’s proposed merger with Westport Innovations Inc.
("Westport") (TSX: WPT / Nasdaq: WPRT).
With the approval by Fuel Systems stockholders, all approvals required
to complete the proposed merger have been received. Fuel Systems and
Westport expect to complete the transaction on June 1, 2016.
About Fuel Systems Solutions
Fuel Systems Solutions (Nasdaq:FSYS) is a leading designer, manufacturer
and supplier of proven, cost-effective alternative fuel components and
systems for use in transportation and industrial applications. Fuel
Systems' components and systems control the pressure and flow of gaseous
alternative fuels, such as propane and natural gas, used in internal
combustion engines. These components and systems feature the Company's
advanced fuel system technologies, which improve efficiency, enhance
power output and reduce emissions by electronically sensing and
regulating the proper proportion of fuel and air required by the
internal combustion engine. In addition to the components and systems,
the Company provides engineering and systems integration services to
address unique customer requirements for performance, durability and
configuration. Additional information is available at www.fuelsystemssolutions.com.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements within the
meaning of the U.S. federal securities law. Words such as
"anticipates", "believes", "expects", "intends", "will", "should",
"may", and similar expressions may be used to identify forward-looking
statements. Forward-looking statements are not statements of historical
fact and reflect Fuel Systems' and Westport's current views about future
events. This press release contains forward-looking statements,
including statements regarding the timing for the anticipated closing of
the merger and related matters. These statements are neither promises
nor guarantees, but involve known and unknown risks and uncertainties
and are based on both the views of management and assumptions that may
cause our actual results, levels of activity, performance or
achievements and ability to complete the proposed merger to be
materially different from any future results, levels of activities,
performance or achievements expressed in or implied by these forward
looking statements. These risks and uncertainties include risks and
assumptions related to our revenue growth, operating results, industry
and products, the general economy, conditions of and access to the
capital and debt markets, governmental policies, regulation and
approvals, technology innovations, fluctuations in foreign exchange
rates, operating expenses, the availability and price of natural gas,
global government stimulus packages, the acceptance of and shift to
natural gas vehicles, the relaxation or waiver of fuel emission
standards, the inability of fleets to access capital or government
funding to purchase natural gas vehicles, the development of competing
technologies, our ability to adequately develop and deploy our
technology, the actions and determinations of our joint venture and
development partners, as well as other risk factors and assumptions that
may affect our actual results, performance or achievements or financial
position discussed in Westport’s Annual Report on Form 40-F for the year
ended December 31, 2015 and Fuel Systems’ Annual Report on Form 10-K for
the year ended December 31, 2015, and other filings made by the
companies with securities regulators. Readers should not place undue
reliance on any such forward-looking statements, which speak only as of
the date they were made. We disclaim any obligation to publicly update
or revise such statements to reflect any change in their expectations or
in events, conditions or circumstances on which any such statements may
be based, or that may affect the likelihood that actual results will
differ from those set forth in these forward looking statements. The
contents of any website, RSS feed or twitter account referenced in this
press release are not incorporated by reference herein.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160531006531/en/
Copyright Business Wire 2016
