Sept 1 (Reuters) - Fuel Systems Solutions Inc FSYS.O :
* Westport and Fuel Systems Solutions announce intention to merge
* Says transaction will result in a combined equity value of $351 million
* Says total annual savings and merger synergies from deal of $30 million
expected to be achieved by 2018
* Stock-for-stock merger creates a combined company with a combined revenue
outlook ranging from $380 to $405 million for 2015
* Fuel Systems shareholders will receive 2.129 Westport shares for each share
of Fuel Systems common stock they own at closing
* Westport and Fuel Systems will operate as separate companies until that time
* Deal for an implied value to Fuel Systems shareholders of $7.54 per share
* Says existing Westport shareholders will hold approximately 64% of the
combined company
* Companies expect the transaction to be accretive to the combined company's
adjusted EBITDA and earnings in 2016
* For year ended December 31, 2015, both Westport and Fuel Systems are
reiterating their respective revenue outlooks
* Three current directors of Westport are expected to be replaced by the new
Fuel Systems directors
* Source text for Eikon ID:nGNXVEIMUa
* Further company coverage FSYS.O