Power Solutions International, Inc. designs, manufactures, distributes, and supports power systems and custom engineered integrated electrical power generation systems for industrial original equipment manufacturers (OEMs) of off-highway industrial equipment and on-road medium trucks and busses. It offers spark-ignited water-cooled internal combustion engines that run on alternative fuels and gasoline; power systems for on-road and off-road equipment; and other engine power products, including power take off clutch assemblies for industrial applications; and engine packaging, subsystems, kits, and componentry associated with cooling systems, electronic systems, air intake systems, fuel systems, housings and power takeoff systems, exhaust systems, hydraulic systems, and enclosures to industrial OEMs for incorporation into their applications. The company also distributes Perkins and Caterpillar diesel power systems; and designs and manufactures electronic fuel-injection systems that enable gasoline engines to be fueled by liquid propane. It serves industrial OEMs across a range of industries, including stationary electricity power generation, oil and gas, material handling, aerial work platforms, industrial sweepers, arbor, welding, airport ground support, turf, agricultural, construction, and irrigation. The company sells its products and services primarily in North America, as well as in the Pacific Rim and Europe. Power Solutions International, Inc. was founded in 1985 and is headquartered in Wood Dale, Illinois.
Looks like their CEO is resigning and they may have some accounting/management issues. Might be a good bounce play, if these things can be sorted out. http://www.marketwatch.com/story/po...nt-cfo-leaves-too-much-uncertainty-2017-02-06
big pop here off the open Power Solutions stock rockets after China-based Weichai makes equity investment Shares of Power Solutions International Inc. PSIX, +49.38% rocketed 52% in premarket trade Tuesday, after the maker of alternative-fuel power systems announced a $60 million equity investment by Weichai America Corp. As part of the deal, Weichai, which is a subsidiary of China-based diesel-engine maker Weichai Power Co. Ltd., will buy 2.7 million newly issued shares at $8 a share, representing a 25% premium to Monday's closing price of $6.40. Weichai will also buy 2.4 million shares of preferred stock, which will be convertible into 4.8 million shares of common stock. "Through this alliance, we will dramatically expand adoption of our engines and technologies for transportation, power generation, and industrial applications within our current markets, including China, the world's largest market opportunity," said Power Solutions Chief Executive Gary Winemaster. The stock has tumbled 15% year to date through Monday, while the S&P 500 SPX, +0.05% has gained 4.6%.
