From EArlier: Westport Announces Amended Cummins Westport Joint Venture Agreement
Westport Innovations Inc. (NASDAQ: WPRT) yesterday announced that it has entered into an amended and restated joint venture agreement with Cummins Inc. for the Cummins Westport Inc. joint venture. The JVA was amended to provide for, among other things, clarification concerning the scope of products within CWI. In addition, the parties have revised certain economic terms of the JVA.
In a separate announcement, CWI today announced the commercial launch of a new 12 litre natural gas engine based on the successful Cummins ISX12 diesel platform. The new engine incorporates the same industry leading combustion technology as CWI's most successful engine, the 8.9 litre ISL G. The new ISX12 G is currently in field trials with production expected to commence in early 2013. CWI will market this new engine in North America, and Cummins will have the option of developing international versions of this new engine for markets outside North America. The new engine will be manufactured in Cummins' Jamestown, New York Engine Plant.
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