Westport Innovations said that it has acquired Netherlands-based Prins Autogassystemen Holding B.V.
The total acquisition cost of Euro 12.2 million (approximately U.S.$15.1 million) is a combination of Euro 6.6 million (approximately U.S.$8.2 million) in assumed liabilities and Euro 5.6 million (approximately U.S.$6.9 million) in cash.
Founded in 1986, Prins is a developer of alternative fuel systems powered by liquefied petroleum gas, compressed natural gas, and liquefied natural gas for light-, medium-, and heavy-duty applications.
Prins operations in Europe will be combined under the Westport Applied Technologies business unit.
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Press Release; Image: Prins Autogassystemen