Westport to acquire LPG tank specialist
28 May 2021
Westport Fuel Systems Inc. announced that it has reached an agreement to acquire Stako sp. z o.o., the liquid petroleum gas (LPG) fuel storage manufacturing subsidiary of Worthington Industries Inc. in a transaction valued at €5 million ($6.09 million).
Based in Słupsk, Poland, Stako is a global manufacturer of LPG fuel storage systems, supplying the aftermarket and original equipment manufacturer (OEM) market segments through a worldwide network of dealers. Stako’s current product range includes over 1000 models of LPG storage tanks and over the last 30 years, the company has supplied tanks to automobile manufacturers worldwide, including VW, Renault, Fiat, Hyundai, Opel, Ford and Maruti Suzuki.
“The acquisition of Stako represents a fundamental step towards our ability to supply completely integrated fuel systems,” said David M. Johnson, chief executive officer of Westport 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.
“LPG and bioLPG emit less CO2 and pollutant emissions such as NOx than diesel and petrol, and support the transition to cleaner fuels, particularly in emerging markets where supply and existing infrastructure investment for LPG is substantial.”
With almost 27 million vehicles powered by LPG globally, it is one of the most common alternative fuels used in the world today. Stako started producing boilers, tanks and vessels in the 1960s and produces toroidal and cylindrical LPG tanks used in vehicles and equipment such as forklift trucks.