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 Inc.
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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.
Cummins enters joint venture to boost production of natural-gas-powered vehicles
The agreement between Cummins and Texas-based Rush Enterprises will help Cummins bring natural-gas-powered commercial vehicles to market.
Former Cummins employee sentenced to prison in $4.8M fraud case
Prosecutors say the Ohio man, who formerly worked for Cummins in Michigan, stole profit-sharing money that was supposed to have been distributed to company employees.
Local companies eye big opportunities in federal infrastructure package
The $1.2 trillion law could be a boon for huge corporations like Cummins Inc. and Allison Transmission Inc. and smaller ones like Telamon Corp., 120Water Inc. and BCA Environmental Consultants LLC.
Cummins delays return-to-office plans until early 2022
The engine maker confirmed Wednesday it is pushing its return-to-office timeline to early next year as COVID-19 infections and hospitalizations surge in Indiana and the nation.
Cummins launches water-access program with $8M commitment
The new program, Cummins Water Works, will focus on improving access to safe water in the U.S., Mexico, Brazil, India and South Africa.
Cummins raises full-year outlook after better-than-expected quarterly results
Indiana-based engine manufacturer Cummins Inc. on Tuesday reported first-quarter revenue and profit that exceeded analyst expectations.
Cummins among companies at White House chips-shortage summit
President Joe Biden’s top economic and national security advisers are hosting more than a dozen CEOs on Monday to discuss the administration’s $2.25 trillion infrastructure plan and the global semiconductor shortage, according to a White House official.
Executive promotions give Cummins vice chairman, new president and COO
Tony Satterthwaite, president and COO since October 2019, will move into the new position of vice chairman, while Jennifer Rumsey, president of the company’s Components business, will succeed Satterthwaite as president and COO.
Cummins saw stiff drop in sales, profit in 2020, but exceeded market expectations
The Indiana-based manufacturer said sales in North America declined 21% last year, but its sales in China reached record levels, up 25% from the previous year.
Cummins to close 300-worker Memphis turbocharger plant
A key reason for the closing is because turbochargers are lasting longer, “decreasing the demand for remanufactured turbochargers,” the company said in a statement.
Cummins to pay $4.5M for Greenwood site in revision to firm’s deal with city
Cummins announced last year that it planned to build a $35 million office building at the corner of Interstate 65 and County Line Road, but the pandemic has the engine maker rethinking how to best use that site.
Cummins investing in hydrogen power, although path to profitability uncertain
The Columbus-based manufacturer is bullish on hydrogen’s possibilities to power everything from buses, trains and trucks to industrial equipment.
Cummins stock surges to record on better-than-expected third-quarter results
The Columbus-based engine maker’s third-quarter revenue and net income rebounded better from pandemic-related lags than analysts had expected.
Cummins exceeds expectations despite historic drop in quarterly revenue
Cummins said it expects sales to improve in the third quarter, although the pandemic continues to create considerable uncertainty.
Cummins to form joint venture with hydrogen storage company
The announcement marks the latest in a series of steps the Columbus-based engine maker has taken in recent years to diversify its offerings in alternative-energy power systems.
Cummins’ stock jumps after quarterly results exceed expectations
The Indiana-based engine manufacturer warned that the second quarter will be much more difficult, with production and demand largely sidelined by the pandemic.
Cummins to suspend production at southern Indiana plants
The engine-maker says it will close three Columbus manufacturing sites and one in Seymour until May 4. The news comes a day after the company announced that it would temporarily reduce the salaries of its U.S. employees by 10% to 25%.