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Westport Fuel Systems Inc. WPRT recently announced that it has entered into a successful agreement with its joint venture spouse in India – Uno Minda Group. Under the agreement, Westport Fuel will sell the assets of its 100 percent Indian subsidiary Rohan BRC Gas Equipment Pvt. To Minda Emer Technologies Ltd. The monetary terms of the acquisition and sale of the asset have not yet been disclosed. Rohan BRC Gas Equipment’s main activity is to expand and sell compressed herbal fuel (CNG) deformation shutoff valves to automotive appliance brands (OEM). It also sells CNG conversion kits under the “Rohan BRC” logo in India. In the Indian auto industry, Rohan BRC has a fair history as a supplier of CNG and LPG answers for Maruti Suzuki, General Motors GM and many other major OEMs. Minda Emer Technologies, a 50/50 joint venture owned by Canadian company Westport Fuel and UNO MINDA, is one of the leading brands of alternative fuel systems: CNG and LPG kits for OEM and aftermarket in India. Recently located in Ahmedabad, GujaratArray will be merged with Minda Emer Technology’s production facility in Manesar, Haryana. With the acquisition by Minda Emer Technologies of the assets of Rohan BRC Gas Equipment, the product lines of the two corporations will be combined to offer a broader and more advanced range of CNG products to the Indian automotive market. Minda Emer Technologies expects to start promoting Rohan BRC products in approximately 30 days. This transaction between Westport Fuel and Uno Minda will increase their ten-year dating and supply profitability for both corporations. Minda Emer Technologies will become the functional epicenter to further serve the Indian market for passenger cars, advertising vehicles and giant tricycles. The demand for the CNG vehicle segment is at its peak in India, considering its profitability and viability. By integrating Westport Fuel technologies and products with Uno Minda’s local expertise, this union will position the two corporations to tap into the expanding Indian automotive market, which is one of the fastest expanding markets in the world. world, economically. This expanded spousal relationship between the corporations will help to achieve their purpose of tailoring the most productive distributor of CNG products in the Indian automotive market.
Westport Fuel has been carrying a row 2 of Zacks (Buy) lately. The company’s shares have fallen by 31. 2% since the start of the year, below the 0. 5% decline in its sector.
Other high-end automotive inventories come with BRP Inc. DOOO and LCI Industries LCII, any of which recently has a Zacks range of 1 (strong buy). BRP Inc has appreciated by 18% since the beginning of the year, while LCI Industries inventory has depreciated by 0. 7%.
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Want to know the latest recommendations from Zacks Investment Research?Today you can download 7 moves for the next 30 days. Click for this loose report from General Motors Company (GM): Westport Fuel Systems Inc. Free Inventory Analysis Report. (WPRT): LCI Industries Free Inventory Analysis Report (LCII): Free Stock Research Report BRP Inc. (DOOO): Free Inventory Analysis Report To read this article in Zacks. com, click here.