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Cummins Closes On Acquisition Of Siemens’ Commercial Vehicles Business

Cummins Closes On Acquisition Of Siemens’ Commercial Vehicles Business

11/30/22, 12:31 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgcolumbus
https://purecatamphetamine.github.io/country-flag-icons/3x2/DE.svgmunich
Industry
manufacturing
Global power and technology leader, Cummins Inc. (NYSE: CMI) today announced that it, through its subsidiary Meritor, has completed its acquisition of Siemens’ Commercial Vehicles business, a leading global supplier of high-performance electric drive systems for commercial vehicles. In May 2022, Meritor, Inc. announced it had entered into an agreement to acquire the business for approximately €190 million enterprise value; Cummins subsequently completed its acquisition of Meritor in August 2022.

Company Info

Company
Cummins
Location
Columbus, Indiana, United States
Company info
Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, batteries, electrified power systems, hydrogen generation and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 57,800 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $1.8 billion on sales of $19.8 billion in 2020.

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