Cummins Announces Conclusion of Joint Ventures with CNH Global N.V. and Iveco N.V.Cummins Purchases CNH CNH Carteira Nacional de Habilitação
CNH Centro Nacional de Huracanes (Spanish)
CNH California Nevada Hawaii (a district of Kiwanis International)
CNH Club Náutico Hacoaj Equity Stake in Consolidated Diesel Company
European Engine Alliance Sold to Fiat Powertrain Technologies
COLUMBUS, Ind. -- Cummins Inc., (NYSE NYSE
See: New York Stock Exchange : CMI (Computer-Managed Instruction) Using computers to organize and manage an instructional program for students. It helps create test materials, tracks the results and monitors student progress. ) announced today that it has concluded its joint ventures with CNH Global CNH Global N.V. (short for Case-New Holland; NYSE: CNH-ADR's) is the second largest manufacturer of agricultural equipment and the third largest maker of construction equipment in the world. N.V. (CNH) and Iveco N.V., two Fiat Group companies. Under the new agreement, Cummins will purchase CNH's equity stake in Consolidated Diesel Company (CDC See Control Data, century date change and Back Orifice.
CDC - Control Data Corporation ) and will sell its interest in the European Engine Alliance.
CDC, which is located in Whitakers, N.C., will become a wholly-owned entity of Cummins Inc. Cummins entered the highly successful joint venture with Case Corporation in 1980, and has produced more than 2.7 million mid-range engines. Cummins will purchase CNH's 50 percent interest in CDC.
The European Engine Alliance (EEA EEA European Economic Area
EEA European Environment Agency
EEA Employment Equity Act (Canada)
EEA Een En Ander (Dutch)
EEA Erick van Egeraat Associated Architects
EEA Energy and Environmental Analysis ) was established in 1996 as a joint venture between Cummins and two Fiat Group companies, Iveco N.V. and New Holland, which is now CNH Global N.V., to develop a new generation of 4, 5 and 6-liter engines. EEA includes manufacturing assets in Turin, Italy. Cummins will sell its one-third interest in the EEA to Fiat Powertrain Technologies.
"We have enjoyed a long and successful relationship with our partners. This change will essentially be transparent to the CDC employees and to our customers," said Jim Kelly For other persons named Jim Kelly, see Jim Kelly (disambiguation).
James Edward Kelly (born February 14, 1960 in Pittsburgh, Pennsylvania) is a former American football quarterback in the NFL for the Buffalo Bills. - President of Cummins Engine Business. "On July 1, we celebrated the 25th year of CDC's successful production of engines and components with our employees there, and we look forward to continuing this success together well into the future. Our customers can continue to depend on Cummins and CDC for the quality products and support they have always received."
Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins serves customers in approximately 190 countries and territories through a network of more than 500 company-owned and independent distributor locations and approximately 5,200 dealer locations. Cummins reported net income of $739 million on sales of $13.05 billion in 2007. Press releases can be found on the Web at www.cummins.com.