Cummins to buy Westport’s share of former joint venture
Cummins is announcing that it is taking over the former joint venture it held with Westport Fuel Systems Inc.
The joint venture agreement ended as of Dec. 31st. Cummins will buy out Westport’s stake. Cummins will also buy Westport’s share in the intellectual property of the joint venture’s spark-ignited engines for $20 million.
The Columbus-based engine manufacturer will continue to operate the business as the sole owner.
Cummins and Westport also agreed to assess Westport’s hydrogen high pressure direct injection system, for potential use on Cummins hydrogen applications.