Leading supplier of advanced fuel delivery components and systems Westport Fuel Systems Inc. today announced it agreed to acquire Stako from Worthington Industries Inc. Indeed, Stako is the liquid petroleum gas fuel storage manufacturing subsidiary of Worthington. Moreover, the transaction was valued at €5 Million (more than US$6M).
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Based in Słupsk, Poland, Stako is a world-leading Liquefied Petroleum Gas (LPG) fuel storage manufacturer. In fact, it specializes in supplying the aftermarket and original equipment manufacturer (“OEM”) market segments. Particularly, the Company does it through a worldwide network of dealers.
Accordingly, Stako’s current product range includes over 1,000 models of LPG storage tanks. Moreover, over the last 30 years, the company has supplied tanks to leading automobile manufacturers worldwide, including VW, Renault, Fiat, Hyundai, Opel, Ford, Maruti Suzuki, and many others.
In this sense, David M. Johnson, Chief Executive Officer of Westport Fuel Systems, said; In fact, “the acquisition of Stako represents a fundamental step towards our ability to supply completely integrated fuel systems. As a foremost global supplier of alternative fuel systems, we are well-positioned to offer a range of industry-leading solutions to prominent global OEMs.”
Benefits of LPG
Worth noting, “LPG and bioLPG emit less CO2 and pollutant emissions such as NOx than diesel and petrol,” continued Mr. Johnson. Besides, “they support the transition to cleaner fuels; particularly in emerging markets where supply and existing infrastructure investment for LPG is substantial.”
Indeed, with almost 27 million vehicles powered by LPG globally, it is the most common alternative fuel used in the world today. Particularly, the price advantage offered in many countries to operate an LPG vehicle provides an advantage. In contrast, there are higher operating costs for an equivalent model fueled by petrol or diesel.
Since the 1960s, Stako started producing boilers, tanks, and vessels. Accordingly, the company is one of the largest suppliers of LPG fuel storage tanks to the aftermarket segment.
Moreover, it is a world leader in producing LPG fuel storage (toroidal and cylindrical) for automotive applications.
Similarly, Worthington Industries is an industrial manufacturing company delivering innovative solutions to customers that span many industries. For instance, including transportation, construction, industrial, agriculture, retail, and energy.
Furthermore, Worthington is North America’s premier value-added steel processor and producer of laser-welded products.
About Westport Fuel Systems
Finally, Westport Fuel Systems is a supplier of advanced fuel delivery components and clean, low-carbon fuel systems. For instance, such as natural gas, renewable natural gas, propane, and hydrogen to the global automotive industry.
It is headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America. Thus, the company serves customers in more than 70 countries with leading global transportation brands.