Weichai Power Transfers 40% of Westport New Energy Engines Company Shares
www.chinatrucks.com: On January 7th, Weichai Power announced that 40% of Weifang Diesel Westport New Energy Engines Company (hereinafter referred as Westport New Energy) shares transferred to Weichai Group had been registered in Industrial and Commercial Administration, price being CNY 94.06788 million.
Weichai Power said this transfer would help the company focus on major business and promote the development of Westport New Energy.
Westport New Energy was established jointly by Weichai Power, Westport Innovations Inc. and Hongkong Peixin Group in 2008, which held the shares of 40%, 35% and 25% respectively.
Currently, Westport New Energy took 35% of market shares of domestic LNG/CNG engines and 85% of market shares of heavy-duty truck LNG/CNG engines, selling 18,300 NG engines last year, increasing 117% year-on-year.
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