Fuel Systems Stockholders Approve Merger with Westport
May 31 2016 - 5:24PM
Business Wire
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160531006531/en/
Inquiries:Fuel Systems SolutionsPietro Bersani,
646-502-7170Chief Financial OfficerorInvestors:Laurel Hill Advisory
Group516-933-3100 or 888-742-1305 (toll-free)orMedia:Joele Frank
Wilkinson Brimmer KatcherTim Lynch / Nick Leasure, 212-355-4449
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