Cummins Inc.

Cummins plans to build giant engine in Seymour

November 2, 2011
Associated Press
Work on the new engine is expected to start next year and build to full production in 2015. About 200 engineering and production jobs are expected to be added over that time.
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PROXY CORNER: Cummins Inc.Restricted Content

October 29, 2011
Cummins Inc., 500 Jackson St., Columbus, Ind. 47202 (www.cummins.com) designs and manufactures diesel engines for automotive and industrial markets.
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BorgWarner sues Cummins over patents on turbochargers

October 27, 2011
Bloomberg News
BorgWarner Inc., the world’s biggest maker of automatic-transmission parts for vehicles, filed a lawsuit accusing Cummins Inc. of infringing on three patents for a titanium wheel used in engine turbochargers.
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Cummins Inc. profit soars on huge growth in sales

October 25, 2011
 IBJ Staff
Cummins Inc. reported a 60-percent increase in third-quarter profit as revenue soared 36 percent over the same quarter a year ago.
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Cummins needs to hire 7,000 engineers, CEO says

October 5, 2011
Bloomberg News
Columbus-based engine maker Cummins Inc. needs to add 7,000 engineers within five years, CEO Theodore Solso said Wednesday.
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Big sales forecast by CEO boosts Cummins stock

September 14, 2011
Associated Press
Cummins Chairman and CEO Tim Solso said Tuesday that 2011 would be a record year for the Columbus manufacturer.
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Cummins OK with new federal fuel standards for trucks

August 9, 2011
U.S. truck makers are expected to improve tractor-trailer fuel economy by about 20 percent by 2018, saving $50 billion in fuel costs over five years and decreasing carbon-dioxide emissions, President Barack Obama said.
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Cummins CEO Solso retiring at end of year

July 12, 2011
Associated Press
Cummins Inc. says Tim Solso will retire as chairman and CEO at the end of the year. The 64-year-old Solso has led Cummins since 2000.
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Cummins plans expansion, 600 jobs for Columbus

June 10, 2011
Anthony Schoettle
Cummins Inc. announced Friday that it plans to add 600 employees to work in a new $18 million office building the diesel engine maker will build in downtown Columbus.
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Cummins' profit more than doubles in first quarter

April 26, 2011
The Columbus, Ind.-based engine maker reported first-quarter profit of $343 million amid continued strength in key international markets and a recovery in the North American truck market.
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Cummins spurs launch of mechanical engineering programRestricted Content

April 9, 2011
Kathleen McLaughlin
This fall, Indiana University-Purdue University at Columbus will roll out its first four-year mechanical engineering program.
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Cummins Inc. plans to add 2,500 new jobs in U.S.

April 5, 2011
Associated Press
The Columbus-based engine manufacturer says it is hiring across the board to meet strong demand worldwide and in anticipation of an economic recovery.
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Indiana manufacturing sector clawing its way backRestricted Content

April 2, 2011
Scott Olson
Factories are adding jobs, but returning to pre-recession levels will be a long slog.
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Former Irwin CEO takes helm of New York foundation

March 28, 2011
 IBJ Staff
William I. Miller, the former CEO of Irwin Financial Corp., which went bankrupt in 2009, is joining The Wallace Foundation of New York as its president.
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Cummins' early start revs growth in China

March 26, 2011
Greg Andrews
Columbus-based engine maker Cummins Inc. has been building business in China for 30 years, long before many U.S. companies had even begun formulating a China strategy.Cummins now employs 8,000 people in China and racked up 2010 sales of $3.1 billion.
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Three local companies make most-admired list

March 7, 2011
 IBJ Staff
Simon Property Group Inc., WellPoint Inc. and Brightpoint Inc. of Indianapolis, and Columbus-based Cummins Inc. made Fortune's annual list of 350 companies, released Monday.
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Cummins reports record quarterly sales, profit

February 1, 2011
Sales for the fourth quarter were $4.1 billion, up 22 percent from the same period in 2009. Quarterly profit of $362 million, or $1.84 per share, exceeded analyst expectations.
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Cummins sells exhaust business to Global Tube

January 25, 2011
Associated Press
Cummins Inc. will sell its exhaust business, which includes several plants in Wisconsin, to Global Tube, a portfolio company of the Chicago-based private equity firm Wind Point Partners.
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Uptick in M&A activity suggests a turnaroundRestricted Content

January 22, 2011
Scott Olson
Fourth quarter helps to bolster 2010 deal-making.
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Cummins to build $70 million plant in Turkey

December 8, 2010
Bloomberg News
The company expects to employ more than 800 workers at the plant within five years, producing filters and generators for motor vehicles.
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Truck manufacturing might ramp up 56 percent in 2011

November 21, 2010
Bloomberg News
An expected push to refresh the oldest North American commercial trucking fleet in at least 31 years should boost sales at partsmakers like Columbus-based Cummins Inc.
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Cummins expanding in Columbus, plans 350 jobs

October 26, 2010
 IBJ Staff
Cummins Inc. announced Tuesday that it will expand its headquarters in Columbus, adding at least 350 professional employees during the next 18 months to support global operations.
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Cummins shares fall after quarterly report

October 26, 2010
 IBJ Staff and Associated Press
Cummins Inc. reported $283 million in third quarter profit, a three-fold increase from the year-ago period, but the performance missed analyst expectations.
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Court of Appeals upholds Miller estate decision

September 30, 2010
Kathleen McLaughlin
The Indiana Court of Appeals has sided with former Columbus, Ind., banker Will Miller in an estate battle launched by his older brother, Hugh. In an opinion issued Thursday, the court said Will Miller was correct to spend more than $20 million over 3-1/2 years on the upkeep of properties owned by the wealthy Columbus family.
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Cummins awarded $6.9 million Army contract

September 14, 2010
The three-year deal calls for the Columbus, Ind.-based diesel engine manufacturer to develop a power train that improves efficiency by reducing fuel consumption and noise, and can run on a wide range of fuels and fuel mixtures.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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