Westport Innovations Inc. and Cummins Inc. have extended their joint venture that develops, manufactures, and markets alternative fuel engines. And, the two companies agreed to a technology partnership that establishes “a flexible arrangement” for future technology development between them.
Cummins Westport Inc. was formed in March 2001 to explore products and technologies for natural-gas fuel engines. Westport, Vancouver, contributed personnel, financing, and key technologies; Cummins, Columbus, IN, provided an existing product line, manufacturing, product distribution, and customer service, along with managers and engineers.
The company has supplied natural-gas engines for mass transit vehicles to a number of customers around the world in the past two years.
Cummins will convert its preferred shares in the venture, so that beginning January 1, 2004, CWI will be a 50-50 joint venture.
Tim Solso, Cummins chairman and chief executive officer, said, "We are pleased to continue our partnership with Westport. Over the past three years, Cummins Westport has built a business that we believe can build on the strong customer relationships it has developed as well as achieve a sustainable bottom line. We wish the CWI team great success in this exciting venture and we look forward to this new partnership with Westport to build this business."