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The Latest Breaking News from Cummins Inc.

Cummins buys truck parts supplier Meritor for EV components

Cummins Inc. on Tuesday said it intends to acquire a Michigan-based truck parts supplier to add axles and brakes for hybrid and electric powertrains to its portfolio in a $3.7 billion deal.

Tribune News Service · Feb 22, 2022

Cummins To Acquire Jacobs Vehicle Systems Business From Altra Industrial For $325M

Cummins Inc. (NYSE:CMI) has agreed to acquire Jacobs Vehicle Systems, a subsidiary of Altra Industrial Motion Corp (NASDAQ:AIMC), for $325 million. Founded in 1961, Jacobs Vehicle Systems has roughly 600 employees and more than 60 years of experience in engine retarding and valve actuation systems for the commercial vehicle industry. It generated ~$193 million in…

Benzinga · Feb 9, 2022

Cummins To Take Full Control Of Former JV With Westport

Cummins Inc. (NYSE:CMI) has agreed to acquire the remaining stake in the former Cummins Westport Joint Venture from Westport Fuel Systems Inc. (NASDAQ:WPRT). Financial terms were not disclosed. CMI will operate the business as the sole owner. The Cummins Westport Inc. joint venture agreement terminated effective December 31, 2021. Cummins will also buy Westport’s interest…

Benzinga · Feb 7, 2022

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Cummins Reports Mixed Q4 Results; Expects China Demand To Moderate In FY22

Cummins Inc. (NYSE:CMI) reported fourth-quarter sales of $5.85 billion, flat year-over-year, beating the consensus of $5.79 billion. Sales in North America decreased 4% while international revenues increased 6% Y/Y, driven by strong demand across most global markets, except China. Sales by segments: Engine $2.4 billion (+4% Y/Y), Distribution $2.1 billion (+3% Y/Y),…

Benzinga · Feb 3, 2022

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