Sevcon Signs Definitive Agreement to be Acquired by BorgWarner

SOUTHBOROUGH, Mass., July 17, 2017 -- Sevcon, Inc. (“Sevcon” or the “Company”) (Nasdaq:SEV), a world leader in the design and manufacture of controls and battery chargers for zero emission electric and hybrid vehicles, today announced that it has entered into a definitive merger agreement with BorgWarner Inc. that provides for BorgWarner to acquire all of the outstanding shares of Sevcon’s common stock for $22.00 per share in cash and all of the outstanding shares of Sevcon’s Series A Convertible Preferred Stock for a price per share on an as-converted basis equal to the common stock, together with payment of any accrued and unpaid dividends.  The total transaction value, including the assumption of indebtedness, is expected to be approximately $200 million at the closing of the transaction.
 
The transaction price of $22.00 per share represents a 61% premium to the closing sale price of common stock of the Company on Friday, July 14, 2017 and a 64% premium to the 30-day volume weighted average price of common stock of the Company.
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VOXX International Corporation Announces Definitive Agreement With TE Connectivity To Sell Its Hirschmann Car Communication Antenna And Tuner Business

HAUPPAUGE, N.Y., June 26, 2017  -- VOXX International Corporation (NASDAQ: VOXX), a leading manufacturer and supplier of automotive, consumer electronics and accessories, and premium audio products worldwide, today announced that it has entered into a definitive agreement to sell Hirschmann Car Communication GmbH and its worldwide subsidiaries ("Hirschmann") to a subsidiary of TE Connectivity Ltd. (NYSE: TEL). 
 
Under the terms of the Stock Purchase Agreement, TE Connectivity ("TE") will acquire Hirschmann for an enterprise value of 148.5 million Euro. Based on the Euro to US dollar conversion (1 Euro = $1.12), this equates to approximately $166.0 million. The final purchase price is subject to further net cash and working capital adjustments. VOXX International (Germany) GmbH is the selling entity in this transaction.
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SORL Auto Parts Reports a 37.4% Increase in Sales and a Significant Increase in EPS for the First Quarter of 2017

ZHEJIANG, China, May 15, 2017 -- SORL Auto Parts, Inc. (NASDAQ: SORL) ("SORL" or the "Company"), a leading manufacturer and distributor of automotive brake systems as well as other key safety-related auto parts in China, announced today its unaudited financial results for the first quarter ended March 31, 2017.
 
 First Quarter 2017 Financial Highlights
Net sales for the 2017 first quarter increased by 37.4% to $73.9 million from $53.8 million in the first quarter of 2016; 
Gross profit increased by 42.4% with the gross margin rising to 27.8% from 26.8% in the first quarter of 2016; 
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Westport Fuel Systems Announces the Signing of a Definitive Agreement to Sell its APU Assets for USD$70 million

~Sale in-line with previously announced portfolio review~
 
VANCOUVER, April 17, 2017  - Westport Fuel Systems Inc. ("Westport Fuel Systems") (TSX:WPRT / Nasdaq:WPRT) today announced that it has entered into a definitive agreement to sell the assets of its Auxiliary Power Unit ("APU") business for $70 millionUnited States dollars, subject to certain customary adjustments.  The transaction is expected to close within a few weeks.  The divestiture is consistent with Westport's strategy to streamline its business and product lines and focus on alternative fuel solutions for the transportation and automotive industries.
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SORL Auto Parts Reports Approximately 40% Rise in Net Income in the Fourth Quarter of 2016

ZHEJIANG, China, March 31, 2017  -- SORL Auto Parts, Inc. (NASDAQ: SORL) ("SORL" or the "Company"), a leading manufacturer and distributor of automotive brake systems as well as other key safety-related auto parts in China, announced today its financial results for the fourth quarter of 2016 and the year ended December 31, 2016.
 
Fourth Quarter 2016 Financial Highlights
Net sales for the 2016 fourth quarter rose 45.7% to $82.9 million from $56.9 million;
Operating margin was 12.9% as compared to 10.8% in the fourth quarter of 2015;
Net Income attributable to stockholders was $8.3 million, or $0.43 per diluted share, compared with $5.9 million, or $0.31 per diluted share in the fourth quarter of 2015.
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