Cummins to announce engine contract, more jobs

August 20, 2013

Columbus-based Cummins Inc. plans to announce Tuesday afternoon an agreement with Nissan Motor Co. to supply diesel engines for Titan pickup trucks, the Wall Street Journal reported.

Cummins disclosed earlier it would announce a job-creating engine agreement, but said it wouldn’t provide more details until the official announcement.

Nissan sold about 21,500 Titan pickups in the United States last year and is looking to gain ground on General Motors, Ford and Chrysler, who dominate the consumer truck market.

Cummins already supplies diesel engines for some Chrysler pickup trucks but is looking to expand its product line for lighter-duty trucks. The manufacturer is already North America’s largest supplier of heavy-duty truck engines, controlling about 40 percent of the market.

However, demand has fallen off for heavy-duty engines recently due to a worldwide decline in the mining, oil and gas, and power-generation markets.

Cummins stock rose 19 cents in early trading Tuesday, to $123.40 per share.


 

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