Cummins Inc. Named Second Most Responsible Corporate Citizen by Business Ethics Magazine's Annual Ranking of the Largest 1000 Companies!Business Editors COLUMBUS, Ind.--(BUSINESS WIRE)--March 31, 2003 Today Cummins Inc. (NYSE NYSE See: New York Stock Exchange :CUM) acknowledged selection by Business Ethics business ethics, the study and evaluation of decision making by businesses according to moral concepts and judgments. Ethical questions range from practical, narrowly defined issues, such as a company's obligation to be honest with its customers, to broader social magazine as the second "Most Responsible Corporate Citizen" out of the top 1000 companies in America. This marks the fourth year in a row that Cummins has been recognized in this exclusive list. Cummins has progressively moved up the list each year. The company was ranked seventh overall in 2002 and 16th in 2001. "Corporate responsibility has always been a part of the Cummins heritage and always will be," said Tim Solso, Cummins Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Our employees truly believe in helping out the comminutes where they live and work." Cummins is honored to be a part of this exclusive group, which includes some of the best public companies in America. The Company's mission is to make lives better by unleashing the power of its employees. Cummins has always been committed to being a responsible corporate citizen in all the communities we operate, as well as all the communities that our products operate in throughout the world. The rankings are based on a study conducted by KLD KLD Kullback-Leibler Divergence KLD Kullback-Leibler Distance KLD Këshilli I Lartë I Drejtësisë (Albanian: High Council of Justice) Research & Analytics, an independent Boston-based social research firm, for Business Ethics. KLD collects and synthesizes a broad array of data over a one-year time period on the largest 1000 publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . Judging is statistically analyzed from these compilations based on standardized measures reflecting quality of service to seven stakeholder stakeholder n. a person having in his/her possession (holding) money or property in which he/she has no interest, right or title, awaiting the outcome of a dispute between two or more claimants to the money or property. groups: stockholders, community, minorities and women, employees, environment, non-U.S. stakeholders and customers. Cummins scored well in several categories. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Business Ethics, "the two areas of particular excellence are service to the community and to non-U.S. stakeholders." 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 Columbus (IPA: [kəˈlʌm.bəs]) is the county seat of Bartholomew County, Indiana. The population was 39,059 at the 2000 census. The current mayor is Fred Armstrong. , (USA) Cummins serves its customers through more than 500 company-owned and independent distributor locations in 131 countries and territories. With 23,700 employees worldwide, Cummins reported sales of $5.9 billion in 2002. Press releases by fax can be requested by calling News On Demand (toll free) at 888-329-2305. The Cummins home page can be found at www.cummins.com. |
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