Cummins announced the end of its joint venture with the Fiat Group's Case New Holland (one of the world's largest agricultural machinery manufacturers) and Iveco's "European Engine Alliance". Under the agreement, Cummins sold its one-third stake in the "European Engine Alliance" to the Fiat Powertrain Division, and also repurchased Case New Holland in the "Joint Diesel Engine Company" (Cummings vs. Case New Holland And other joint ventures) 50% equity.
The "European Engine Alliance" (EEA) was founded in 1996 and was jointly invested by Cummins, Iveco, and New Holland (renamed Case New Holland in 1999 with Case Corporation) for more than $300 million in Cummins 4B and 6B series. The diesel engine is a basic platform for the development of new-generation four-, five-, and six-liter medium-horsepower diesel engines, mainly for commercial vehicles and construction machinery.
"Unified Diesel Engine Company" is located in North Carolina, United States. It was founded in 1980 by a joint venture between Cummins and Case Corporation (which was merged with Newfoundland in 1999 and was renamed Case New Holland). Over the past two decades, it has produced 277 cumulative products. More than one hundred million diesel engines will be Cummins’s sole proprietorship in the future.
Cummins in China
The history of Cummings and China dates back more than half a century to the 1940s. On March 11, 1941, the President of the United States, Franklin Roosevelt, signed the Lease Act and provided wartime assistance to 38 countries, including China. The "Lending Act" includes military defense patrol boats equipped with Cummins engines and military trucks.
At the end of 1944, a Chongqing company sent a letter to Cummins Corp. seeking to establish commercial ties and conduct localized production of Cummins engines in China. Erwin Miller, general manager of Cummins Engine Co., expressed great interest in this letter. It is hoped that Cummins will build a factory in China after the Sino-Japanese War. For reasons known to all, Mr. Miller's idea can only wait until the 1970s 30 years later. With the gradual relaxation of Sino-U.S. relations, it is expected to become a reality.
Cummins has invested more than US$240 million in China. As the largest foreign investor in China’s diesel industry, Cummins’ business relationship with China began in 1975, when Mr. Erwin Miller, Cummins’s chairman, visited Beijing for the first time. One of the earliest US entrepreneurs to seek commercial cooperation in China. When China and the United States established diplomatic relations in 1979, China’s opening to the outside world began. The first Cummins China office was established in Beijing.
Cummins was one of the earliest western diesel engine companies to produce engines in China. In 1981, Cummins started to produce engines in the Chongqing engine plant. In 1995, Cummins' first Chinese joint venture engine factory was established. So far, Cummins has a total of 21 institutions in China, including 14 wholly-owned and joint ventures, and employs more than 5,400 employees. They produce engines, generator sets, alternators, filtration systems, turbocharger systems, and exhaust systems. Post-processing and fuel systems and other products have a service network of 12 regional service centers and more than 300 authorized dealers.
Cummins has long established a strategic alliance with large Chinese companies to achieve common development. As the earliest foreign-invested diesel engine company to come to China for local production, Cummins has established four engine joint venture plants with leading companies of commercial vehicles in China, including Dongfeng Motor, Shaanxi Automobile Group and Beiqi Foton, for more than two decades. Cummins 15 Eight of the eight engine families have been produced locally in China.
Cummins was the first foreign-owned diesel engine company to establish an R&D center in China. In August 2006, the engine technology R&D center set up by Cummins in cooperation with Dongfeng Corporation was officially opened in Wuhan, Hubei Province.
In 2007, Cummins sold more than US$1.7 billion in China, which was a 50% increase from 2006, accounting for nearly 10% of Cummins’ global sales, including joint ventures. China has become Cummins’ largest and fastest growing overseas market. .
About Cummins
Founded in 1919 and headquartered in Columbus, Indiana, Cummins Inc. is the only diesel company in the US Fortune 500 company and Fortune 2008's "World's Most Admired Companies" list.
Cummins is the world's largest independent engine manufacturer. Its product line includes diesel and alternative fuel engines, key engine subsystems (fuel systems, control systems, air handling, filtration systems, and exhaust gas treatment systems) and power generation systems. Cummins provides services to customers through its network of more than 500 distribution agencies and 5,200 dealerships in 190 countries and territories.
Cummins employs 37,800 people worldwide, with 2007 sales of US$13 billion, of which the international market outside the US accounts for 54%, with an annual output of 890,000 engines and a net income of US$739 million.
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