Worthington divests autogas storage manufacturing subsidiary

Westport Fuel Systems reached an agreement to acquire Stako, the propane autogas fuel storage manufacturing subsidiary of Worthington Industries, in a transaction valued at $6.1 million (€5 million).

Based in Słupsk, Poland, Stako is a manufacturer of propane autogas fuel storage, supplying the aftermarket and original equipment manufacturer (OEM) market segments through a worldwide network of dealers. Stako’s current product range includes more than 1,000 models of propane autogas storage tanks. Over the past 30 years, the company has supplied tanks to automobile manufacturers worldwide, including VW, Renault, Fiat, Hyundai, Opel, Ford, Maruti Suzuki and others.

“The acquisition of Stako represents a fundamental step towards our ability to supply completely integrated fuel systems,” says David Johnson, CEO 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 propane autogas globally, it is the most common alternative fuel used in the world today, due in large part to price advantages compared to equivalent models fueled by petrol or diesel, says Westport Fuel Systems.

Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America and South America, Westport Fuel Systems supplies advanced fuel delivery components and systems for fuels such as natural gas, renewable natural gas, propane and hydrogen to the global automotive industry.

Worthington, based in Columbus, Ohio, is a North American steel processor and producer of laser-welded products, as well as a global supplier of pressure cylinders and accessories for applications such as fuel storage, water systems and outdoor living. The company operates 50 facilities in 15 states and seven countries.

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