Cummins to Sell Universal Silencer to Management-Led Investor Group.NASHVILLE, Tenn. -- 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. ) today announced that it has reached an agreement to sell Universal Silencer Inc. (USI) to the Stirling Group, led by current USI general manager Randy Eppli. The newly formed Stirling Group includes other key members of Universal Silencer's management team. Universal Silencer, currently part of the Cummins Filtration business, provides unique solutions in industrial noise control. The business is headquartered in Stoughton, Wisc., and employs 230 people. "The transition of ownership to the Stirling Group ensures a sale to people who have a vested interest Vested Interest A financial or personal stake one entity has in an asset, security, or transaction. Notes: For example, if you have a mortgage, your bank has a vested interest on the sale of your house. See also: Right in USI; they are in the best position to grow the business," said Pamela Carter, President, Cummins Filtration. "We believe this is a very good day for the future of the Universal Silencer business, customers and employees," said Eppli. "USI has a strong foundation in acoustics acoustics (ək  `stĭks) [Gr.,=the facts about hearing], the science of sound, including its production, propagation, and effects. , filtration and emission
control The selective and controlled use of electromagnetic, acoustic, or other emitters to optimize command and control capabilities while minimizing, for operations security: a. detection by enemy sensors; b. mutual interference among friendly systems; and/or c. solutions for our customers, and our new investors are very
supportive of investing in this foundation for the long-term growth of
the business."
USI provides custom-engineered solutions to noise and emissions issues for industrial applications of large diesel and turbine turbine, rotary engine that uses a continuous stream of fluid (gas or liquid) to turn a shaft that can drive machinery. A water, or hydraulic, turbine is used to drive electric generators in hydroelectric power stations. engines, compressors, blowers and other air movement equipment. With a growing global footprint, USI will meet its multinational customers' needs around the world. "USI has a great team of employees, trained with a customer focus and ready to support our globally based customers," Eppli said. The transition process has begun and the sale expected to be completed during the fourth quarter of 2007. Terms of the deal were not disclosed. About Cummins 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 customers in more than 160 countries through its network of 550 Company-owned and independent distributor facilities and more than 5,000 dealer locations. Cummins reported net income of $715 million on sales of $11.4 billion in 2006. Press releases can be found on the Web at www.cummins.com. About Cummins Filtration Cummins Filtration Inc. is a wholly owned business unit of Cummins Inc. and the world's leading designer and manufacturer of air, fuel, hydraulic and lube filtration, chemicals and exhaust system Noun 1. exhaust system - system consisting of the parts of an engine through which burned gases or steam are discharged exhaust automobile engine - the engine that propels an automobile technology products for all engine-powered equipment. The company's homepage can be found at cumminsfiltration.com. About Universal Silencer Universal Silencer Inc., headquartered in Stoughton, Wisconsin Stoughton is a city in Dane County, Wisconsin. It straddles the Yahara River about 20 miles southeast of the capital, Madison. As of 2004, it had a population of 12,692.[1] (USA), is a premiere global engineer and manufacturer of industrial noise control solutions with over 48 years of market experience. USI offers standard and custom-engineered products that exceed customer expectations in the industrial process, power generation, marine, oil and gas and emission control markets. Additional information can be found at: www.universal-silencer.com. |
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