Nov 9 Shares of Westport Innovations Inc
, which develops natural gas-powered engines, rose as
much as 11 percent in regular trading on Friday after the
company said it would start production of a long-haul truck
engine next year.
The engine developer, which also posted a wider
third-quarter loss, said late on Thursday that limited
production of Cummins Westport ISX12 G, a 12-litre heavy-duty
natural gas engine, will start early next year.
"There is an anticipation that revenue will improve next
year with the addition of some new product lines at Westport. In
particular, they are bringing the ISX12 G engine to market for
long-haul trucks," National Bank Financial analyst Rupert Merer
Cummins Westport is a joint venture between U.S. engine
maker Cummins Inc and Westport formed in 2001.
Westport's loss widened to $32.5 million, or 59 cents per
share, for the quarter ended Sept. 30, from $13.2 million, or 27
cents per share, a year earlier.
The company cut its full-year revenue growth forecast in
Shares of the Vancouver-based company, which has a market
value of C$1.31 billion, closed up 9 percent at C$25.76 on
Friday on the Toronto Stock Exchange.