Why Westport Fuel Systems Rocketed Higher Today
Under-the-radar transportation solutions provider Westport Fuel Systems (NASDAQ: WPRT) did better than many more well-known names on the stock exchange Tuesday. The company's share price zoomed nearly 13% higher on the day on news of a potentially lucrative new international deal signed by the Canada-based specialist.
After market hours on Monday, Westport announced that it had garnered a contract to develop and supply liquefied petroleum gas (LPG) for what it terms "a global original equipment manufacturer (OEM)" that it did not name. According to its calculations, this deal should bring in 38 million euros (about $38 million) in revenue through the end of 2025.
Westport added that it expects production under the contract will begin in the final quarter of next year.
Source Fool.com
