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4-Traders Homepage  >  Equities  >  Nyse  >  Cummins Inc.    CMI

Delayed Quote. Delayed  - 04/29 10:03:12 pm
117.03 USD   +0.36%
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WABCO : and Cummins Enter Into New Long-Term Agreement to Manufacture and Supply Air Compressors for Markets Globally

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04/29/2016 | 11:15am CEST

BRUSSELS, Belgium - WABCO Holdings Inc. (NYSE: WBC), a leading global supplier of technologies that improve the safety, efficiency and connectivity of commercial vehicles, today announced that it has entered into a new long-term agreement with Cummins Inc. (NYSE: CMI) to manufacture and supply high-performance air-compressor technology globally. This major contract expands the scope of WABCO's existing U.S.-based joint venture with Cummins, a leading global manufacturer and distributor of diesel engines and related technologies for commercial vehicles.

Located in Charleston, South Carolina, WABCO Compressor Manufacturing is majority-owned by WABCO in partnership with Cummins since 1998. WABCO now becomes the exclusive supplier to Cummins in North America for air compressors applied in trucks, buses and industrial equipment. The new agreement also significantly expands the volume and variety of demand for WABCO's air-compression technologies at Cummins facilities in South America, Europe and India, with incremental opportunities for further growth in Asia.

"Alongside making further use of WABCO's world-class engineering capabilities in the Americas and Europe, Cummins also increases access to WABCO's current and next-generation air-management technologies," said Jon Morrison, WABCO President, Americas. "Cummins diesel engines set industry standards for innovation, power and reliability, and we're proud that WABCO's technology leadership will help to advance their new engine programs globally, particularly through high-output, energy-efficient air-compression performance."

"This contract reaffirms how successfully WABCO's differentiated engineering, technical and manufacturing support connects with Cummins' business needs globally," said Morrison. "We fully anticipate contributing to the sustained success of Cummins as they continue to make engines that are fuel efficient, dependable and durable for local applications around the world."

About Cummins Inc.

Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service diesel and natural gas engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins currently employs approximately 55,000 people worldwide and serves customers in approximately 190 countries and territories through a network of approximately 600 company-owned and independent distributor locations and approximately 7,200 dealer locations. Cummins earned $1.4 billion on sales of $19.1 billion in 2015. Press releases can be found on the Web at http://www.cummins.com. Follow Cummins on Twitter at http://www.twitter.com/cummins and on YouTube at http://www.youtube.com/cumminsinc.

About WABCO

WABCO (NYSE: WBC) is a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles. Founded nearly 150 years ago, WABCO continues to pioneer breakthrough innovations for advanced driver assistance, braking, stability control, suspension, transmission automation and aerodynamics. Partnering with the transportation industry as it maps a route toward autonomous driving, WABCO also uniquely connects trucks, trailers, drivers, cargo, and fleet operators through telematics, as well as advanced fleet management and mobile solutions. WABCO reported sales of $2.6 billion in 2015. Headquartered in Brussels, Belgium, WABCO has 12,000 employees in 39 countries. WABCO's 2015 Annual Report is now available at http://www.ar.wabco-auto.com. For more information, visit http://www.wabco-auto.com.

WABCO North America media contact

Dick Pacini, +1 248 770 6446, dpacini@millerschingroup.com

WABCO Global media contact

Tobias Mueller, +49 89 470 277 112, wabco@klenkhoursch.de

WABCO investors and analysts contact

Christian Fife, +1 732 369 7465, christian.fife@wabco-auto.com

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(c) 2016 M2 COMMUNICATIONS, source M2 PressWIRE

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