2022 Year in Review: Cummins acquires Meritor in deal worth $3.7 billion
Meritor, which had 9,600 global employees pre-acquisition, is a leader in electric axle and brake technology.
Cummins Inc.
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Eskenazi, Cummins partner to bring portable market to food-insecure
A former IndyGo bus could start a second life by the end of the year—distributing fresh food, providing nutrition education and troubleshooting problems Indianapolis residents have applying for food stamps.
Cummins sees more revenue, less profit in latest quarter
Cummins said its profitability was affected by several expenses last quarter, the largest of which was the $56 million that the company spent on a one-time bonus to employees.
Why did major Indiana companies stay silent on new abortion law—until it passed?
Despite negative impacts, Indiana’s largest employers didn’t weigh in publicly on the state’s new abortion law while it was being debated.
Cummins completes $3.7B Meritor acquisition
Cummins said it plans to accelerate the growth of Meritor’s core axle and brake businesses around the world.
Cummins posts record quarterly revenue
The Columbus-based manufacturer says its strong second-quarter was due mostly to its North American market, where revenues grew 15%.
Cummins investing $24M in German battery startup
Cummins is investing in VoltStorage, a Munich, Germany-based company that develops and produces batteries based on redox flow technology, a more environmentally friendly alternative to lithium-ion batteries.
Biden pushes computer chips legislation in advance of Senate vote
The bill is being closely watched in Indiana, where manufacturers, research universities and economic development officials are rooting for its passage.
Cummins’ new CEO says climate change presents ‘growth opportunity’
Jennifer Rumsey, who was named the first woman CEO in Cummins’ 103-year history, said addressing climate change remains a key priority for the company.
Tom Linebarger to step down as Cummins CEO, remain chairman
Linebarger will be replaced by Cummins President and Chief Operating Officer Jennifer Rumsey, who has been with Cummins for 22 years, including the last 16 months as COO.
Top Indiana companies for diversity provide unconscious bias training, support minority-owned businesses
For the 14 Indiana companies that made Forbes’ 2022 list of America’s Best Employers for Diversity, efforts go far beyond diversifying the composition of the executive leadership team or the board of directors.
Cummins shareholders reject splitting CEO, board chair duties
Had the proposal been approved, Cummins CEO Tom Linebarger would have been stripped of the chairmanship.
Cummins: Suspending Russian operations cost it $158M in first quarter
Cummins made the disclosure in its first-quarter financial report. Profit dropped in the period, but sales hit a record high. The company also said interest in its emerging hydrogen business is growing.
Cummins to spin off filtration business into separate public company
Columbus-based Cummins has confidentially filed paperwork with the Securities and Exchange Commission for an initial public offering for its filtration business. Cummins announced last summer that it was looking at “strategic alternatives” for the business.
Cummins shareholders to vote on splitting CEO, board chair positions
An unnamed Cummins shareholder is proposing that the company separate its CEO and board chair roles, which are both held by Tom Linebarger. Cummins is recommending that shareholders vote against this proposal.
Cummins halting all business operations in Russia
Cummins has operated in Russia for decades and has 700 employees in that country, but on Friday the company said it was halting all operations in Russia “indefinitely” because of Russia’s invasion of Ukraine.
The Freedom Forum podcast: Sharon Barner of Cummins Inc.
Barner talked with host Angela B. Freeman about the challenges she faced building her career, how she has helped others overcome similar barriers and what companies and law firms can do to increase diversity.
Cummins to acquire Meritor for $3.7B
Columbus-based Cummins said its acquisition of Michigan-based Meritor, a maker of electric axle and brake technology, will help accelerate Cummins’ electric and hybrid business.
Cummins awards more than $1M to boost Martindale-Brightwood neighborhood
The grant will be used to fund mortgages to low-income residents who are buying one of 12 newly-constructed homes that are being built on previously-vacant properties in the neighborhood.
Cummins to acquire brake manufacturer for $325M
Cummins announced Wednesday that it’s signed an agreement to purchase Connecticut-based Jacobs Vehicle Systems from its current owner for $325 million. The deal is expected to close later this year.