Westport has completed the purchase of Emer S.p.A. (Emer), of Brescia, Italy. After deduction of certain amounts contractually agreed upon, Westport, at closing, paid approximately Euro 25.6 million (approximately US$37.2 million), which consisted of Euro 12.1 million (US$17.6 million) in cash and 881,860 shares of Westport.
Westport's financial results for the fourth quarter and fiscal year ended March 31, 2011 (FY2011) and an update on operations. All figures are in U.S. dollars unless otherwise stated.
Westport will purchase Emer S.p.A. (Emer),of Brescia, Italy for Euro 27 million (approximately US$39.6 million) through a combination of stock and cash, plus the assumption of approximately Euro 53 million in existing net debt within Emer.
Westport will disclose its fourth quarter and fiscal year 2011 financial results on Wednesday, June 8, 2011 before market open.
Westport reported financial results for the third quarter of fiscal 2011 ended December 31, 2010 and provided an update on operations.
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