Cummins Engine makes announcement.COLUMBUS, Ind IND Investigational new drug Therapeutics A status assigned by the FDA to a drug before allowing its use in humans, exempting it from premarketing approval requirements so that experimental clinical trials may be conducted. See Phase 1.2, 3 studies, Sponsorship. .--(BUSINESS WIRE)--March 7, 1996--Cummins Engine Co. Inc. (NYSE NYSE See: New York Stock Exchange :CUM) today announced that the Tenneco Inc. General Employee Benefit Trust has agreed to sell its 3.2 million shares of Cummins common stock to the Cummins master pension trust and an institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . The Cummins master pension trust will acquire 1.742 million shares and the institutional investor will acquire 1.458 million shares. Cummins, headquartered in Columbus, Ind., is a leading worldwide designer and manufacturer of diesel engines and related products. These engines provide power for its key markets: automotive, power generation, industrial and core technologies. Cummins reported record sales of $5.2 billion in 1995. CONTACT: Cummins Engine Co. Inc. Ann ANN, Scotch law. Half a year's stipend over and above what is owing for the incumbency due to a minister's relict, or child, or next of kin, after his decease. Wishaw. Also, an abbreviation of annus, year; also of annates. In the old law French writers, ann or rather an, signifies a year. C. Smith, 812/377-3524 |
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