Welcome to our dedicated page for Cummins news (Ticker: CMI), a resource for investors and traders seeking the latest updates and insights on Cummins stock.
Cummins Inc., headquartered in Columbus, Indiana, is a global leader in power solutions. The company designs, manufactures, distributes, and services diesel and natural gas engines and related technologies. This includes fuel systems, controls, air handling, filtration, emission solutions, and electrical power generation systems. With a workforce of approximately 75,500 employees, Cummins operates in around 190 countries through a network of 600 company-owned and independent distributors and 7,200 dealer locations.
Cummins' product portfolio is highly diversified. It includes engines used in commercial trucks, off-highway machinery, and railroad locomotives. The company also manufactures standby and prime power generators and powertrain components such as transmissions, turbochargers, aftertreatment systems, and fuel systems. Cummins has maintained its position as the top manufacturer of diesel engines despite intense competition and stringent government regulations on carbon emissions.
One of Cummins' recent achievements is the inauguration of a new state-of-the-art facility in Jamshedpur, India, in partnership with Tata Motors. This facility focuses on producing hydrogen-based internal combustion engines for medium and heavy commercial vehicles, reflecting the company's commitment to sustainable and zero-emission technologies. This project aligns with Cummins' long-term sustainability plan, PLANET 2050, aimed at addressing climate change and resource use while improving communities globally.
Cummins continues to expand its technological capabilities to support its Destination Zero strategy, which aims to advance decarbonization and offer customers a wide range of zero-emission products. In 2023, the company reported earnings of $735 million on sales of $34.1 billion, indicating a robust financial performance. Cummins remains committed to its core principles of sustainability, innovation, and customer success, driven by its vast technological expertise and global manufacturing network.
Cummins Inc. announced the successful implementation of a nitrile glove recycling program at its Columbus Mid-Range Engine Plant (CMEP). This initiative has diverted 1 ton of gloves from landfills since April 2022, with the potential to recycle 3.75 tons annually based on current usage patterns. The program aligns with Cummins' PLANET 2050 strategy, aiming for a circular lifecycle for materials and producing less waste. Nitrile gloves, commonly used for employee safety, are single-use, with CMEP employees consuming about 875,000 gloves annually. The partnership with Kimberly-Clark Professional enhances sustainability efforts.
Cummins Inc. (NYSE: CMI) has launched Accelera, a brand focused on zero-emissions solutions across various industries. This move supports Cummins' Destination Zero strategy, aiming for net-zero emissions by 2050. Over the past years, Cummins invested more than $1.5 billion in research and technology, establishing Accelera as a leader in zero-emissions technologies, including hydrogen fuel cells and batteries. Upcoming projects include supplying a 90MW electrolyzer for Varennes Carbon Recycling in Canada and accelerating the production of 1,000 electric school buses in the U.S., preventing 10,600 metric tons of carbon emissions annually.
Cummins Inc. (NYSE: CMI) is set to host an event on March 8 at the Rubell Museum in Washington, D.C., showcasing their strategy for a decarbonized future. The event will commence at 8 a.m. with remarks by Jennifer Rumsey, President and CEO, and Amy Davis, President of New Power Business. Attendees will have the opportunity to view several products. For those unable to attend, a livestream will be available via a provided link. This initiative underlines Cummins’ commitment to sustainable practices and innovation in the energy sector.
Cummins Inc. (NYSE: CMI) has launched the new PowerCommand® B-Series transfer switches, enhancing its North America product line. These switches, ranging from 1200 to 3000 amps, are designed for mission-critical applications, ensuring reliable power transfer. The B-Series features exclusive technologies such as High-Endurance Mechanism (HEM) Blow-On Technology to improve reliability under severe fault conditions. Built to meet UL1008 standards, the product reflects Cummins' commitment to quality and innovation in power systems, addressing growing demands for stability amid increasing grid issues. More details are available on Cummins' website.
Cummins has launched its first Technical Education for Communities (TEC) program in Indiana, specifically at Arsenal Technical High School in Indianapolis. This initiative aims to provide disadvantaged youth with vocational training and employable skills to bridge the technical workforce gap. Supported by a coalition of local businesses, educational institutions, and government leaders, the program is designed to enhance students' hands-on learning experiences in Diesel Powered Equipment Technology and Automotive programs. This Indianapolis TEC program is the fifth in the U.S. and part of a broader global network of 26 programs, reflecting Cummins' commitment to community development and workforce readiness.
Cummins Inc. (NYSE: CMI) has launched new 175kW and 200kW natural gas standby generator sets, available for North American customers. This initiative aligns with the company’s Destination Zero strategy aimed at achieving zero emissions. These generator sets boast industry-leading power density and exceptional reliability, featuring a robust 6-cylinder engine and advanced PowerCommand® control systems. Designed for a variety of stationary standby applications, these solutions cater to commercial, government, and healthcare sectors, emphasizing Cummins' commitment to sustainable technology. For further details, visit cummins.com/generators/qsj89g.
Cummins Inc. is launching the RESILIENT READERS BOOK CLUB in Indianapolis to enhance access to quality Black literature for school-age children. This initiative, supported by Cummins' Advocating for Racial Equity (CARE) program, aims to address educational disparities affecting Black students in Indiana, where only 33% of fourth graders read proficiently. The launch, scheduled for March 6, will feature curated book boxes and community engagement activities. The partnership involves local organizations, including The 15 White Coats and Black Worldschoolers Mobile Bookstore, and emphasizes diversity, equity, and inclusion in education.
Cummins Inc. (NYSE: CMI) has announced that its Filtration division, Atmus Filtration Technologies, filed a Form S-1 with the SEC for an initial public offering (IPO) of common stock. The IPO will seek listing on the NYSE under the symbol ATMU, with share numbers and pricing yet to be determined. The offering is anticipated to begin following SEC review and subject to market conditions. Atmus Filtration, established in 1958, specializes in filtration products for commercial vehicles and various equipment sectors, led by CEO Steph Disher. This announcement does not constitute a sale or an offering of securities before effective registration.
Cummins Inc. (NYSE: CMI) has appointed three new vice presidents effective March 1: Jane Beaman, Andreas Lippert, and José Samperio. These promotions reflect Cummins' commitment to leadership development and succession planning. Beaman, now leading the Global Bus Business, is tasked with navigating the energy transition market. Lippert will focus on New Power Engineering, identifying growth opportunities in emerging technologies. Samperio, overseeing North America's On-Highway division, is expected to enhance customer relationships and drive revenue growth. These leadership changes are pivotal for Cummins' ongoing strategy towards zero emissions.
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