Juniper 2.4L Natural Gas (or LPG) Industrial Engine
Westport Innovations Inc., alternative fuel and low-emissions transportation technologies provider, has announced the acquisition of 100% of the outstanding shares of OMVL SpA and OMVL’s 51% share of Juniper Engines Inc. (“Juniper”), for a combined consideration of €19.0 million (approximately US$23.4 million). The transaction is subject to customary closing conditions. As a result of the transaction, Juniper, previously a joint venture between wholly owned subsidiaries of Westport Innovations Inc. and SIT Group of Italy, will become, indirectly, wholly owned by Westport. Ian Scott, President of Juniper Engines, will manage the combined companies while Maurizio Grando, Managing Director of OMVL, will continue to manage the Italian operations.
“Since the formation of our Juniper Engines joint venture with OMVL over two years ago, we have worked together to develop a new approach to alternative fuel, light-duty engines,” said David Demers, CEO of Westport Innovations. “With the successful launch of our first Juniper products, and the rapid development of global markets for alternative fuel engines, we have concluded that this strategic combination, with access to Westport’s large intellectual property portfolio, could position Juniper as a significant market participant in light-duty engines. As part of Westport’s light-duty strategy, OMVL provides access to proven, high quality, multi-point fuel injection technology and world class production and assembly facilities to help develop and sell products for natural gas vehicles.”
The integration of OMVL will complete Juniper’s light-duty strategy to enter the mobile industrial, non-mobile industrial, and automotive segments. Juniper will grow the business through new OEM relationships and continued strong aftermarket sales, leveraging OMVL’s capabilities and assembly facilities in Italy and Argentina that today supply Europe, Asia and the Americas. Strategic investments in new markets and OEM-class products and capabilities will allow Juniper to compete for leadership in the light-duty alternative fuels market.
Based in Pernumia, Italy, OMVL is a major supplier of alternative fuel systems; it designs, manufactures and markets complete fueling systems for new vehicles and for the aftermarket conversion of engines from gasoline (petrol) to compressed natural gas (CNG) and liquified petroleum gas (LPG). and components in global markets and has strong OEM partnerships in place including Magna-GAZ (Russia) and PSA Peugeot-Citroën (France).
Westport’s Juniper Engines Inc. offers light-duty natural gas and LPG engine solutions for industrial applications such as forklifts and light-duty automotive.
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