Westport Innovations Inc. reported on Tuesday that it inked a contract with heavy machinery maker firm, Caterpillar Inc. (NYSE:CAT) to make use of natural gas technology for mining trucks and locomotives.
Terms and conditions of the agreement were not revealed. The Vancouver-located firm creates direct injection, natural gas technology for heavyweight vehicles.
The considerable cost variation between natural gas and diesel fuel is making a robust financial inducement to facilitate off-road applications to get benefit from low natural gas energy prices without forgoing functional performance, David Demers stated, chief executive officer of Westport Innovations.
Its competitors include CNH Global NV (ADR) (NYSE:CNH) that slipped -1.06% to $36.56 with the total traded volume of 121,544.00 shares.
Other capital goods stocks with bullish trend include Harbinger Group Inc. (NYSE:HRG) up 0.87% to $4.66, MGT Capital Investments Inc. (NYSEAMEX:MGT) up 2.58% to $4.77 and China Growth Equity Investment Ltd. (NASDAQ:CGEI) up 0.31% to $9.70, whereas with bearish trend include The Dow Chemical Company (NYSE:DOW) down -0.03% to $30.48, United Technologies Corporation (NYSE:UTX) down -0.69% to $70.96 and Danaher Corporation (NYSE:DHR) down -0.74% to $49.66.
http://www.pt-news.org/caterpillar-cat-hits-natural-gas-deal-with-westport-innovations/122967/
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