Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Westport Rises on Shell Pact to Market Natural-Gas Vehicles

Don't Miss Out —
Follow us on:

Sept. 7 (Bloomberg) -- Westport Innovations Inc. rose the most in almost three years after the maker of natural-gas engines said it’s working with Royal Dutch Shell Plc to market the benefits of liquefied natural gas-powered vehicles to consumers.

Westport, which has not reported an annual profit since its initial public offering in 1997, rose $4.42, or 19 percent, to $27.24 at 4 p.m. in Nasdaq Stock Exchange composite trading, the biggest gain since November 2008. The shares have risen 47 percent this year.

The companies said they will focus their marketing on North America initially. Westport, based in Vancouver, develops truck engines. Shell, based in The Hague, is Europe’s largest oil company.

“As a result of this initiative, we believe the use of natural gas as a fuel for transportation will accelerate,” David Demers, Westport’s chief executive officer, said in the statement.

To contact the reporter on this story: Mark Clothier in Southfield, Michigan at mclothier@bloomberg.net

To contact the editor responsible for this story: Jamie Butters at jbutters@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.