BEIJING--(BUSINESS WIRE)--Nov. 20, 2007--Cummins (NYSE:CMI)
recently received an order of 1,000 Euro IV diesel engines from
Beijing Public Transport Holdings Ltd. (BPT), and 900 Euro III diesel
engines from Hangzhou Public Transport Corporation (HZPT). Hangzhou is
the capital of Zhejiang Province in eastern China.
BPT's most recent order comes in addition to its purchase of 1,400
Cummins Euro IV diesels and 250 Cummins Westport (a joint venture of
Cummins and Westport Innovations) Euro III natural gas engines in the
second quarter of 2007. With this new order, Cummins and Cummins
Westport, will power more than 14,000 BPT buses - over half of the
transit agency's fleet.
The order of 900 Euro III diesel engines from HZPT marks an
important breakthrough for Cummins in the large urban transit market
in China's booming Eastern region, as the city has increased its
commitment to the environment in recent years.
"Our strategy in China's transit market has long been to provide
the most current technology that the market will bear," said Wang
Hongjie, General Manager - Cummins East Asia Engine Business. "As
China moves to more stringent emission standards, we are ready with
proven products to meet Chinese customers' expectations on engine
performance and dependability."
China has implemented Euro III emission standards countrywide this
year, and plans to move to Euro IV by 2010. Beijing will move to Euro
IV in 2008 in time for the Summer Olympics. Cummins is the largest
supplier to China's nationwide Euro III/IV diesel bus engine market
and is the largest supplier in the country's natural gas transit bus
Cummins in China
Cummins is the largest foreign investor in the Chinese diesel
engine industry. The Company's ties to the country date back to 1975
when then-CEO J. Irwin Miller led the first Cummins delegation to
Beijing, making him one of the first American business leaders to seek
opportunities in China.
Cummins began licensing its engine technology in China in 1981 and
formed its first joint venture in the country in 1995. Today, Cummins
operates 21 facilities in China with more than 5,400 staff, 14
manufacturing plants, 12 distributor locations and a regional R&D
Consolidated and unconsolidated sales in China were each in the
range of $750 million during the most recent reported 12 months, so
total sales in which Cummins participates, independently and with its
partners, exceeded $1.5 billion
Cummins Inc., a global power leader, is a corporation of
complementary business units that design, manufacture, distribute and
service engines and related technologies, including fuel systems,
controls, air handling, filtration, emission solutions and electrical
power generation systems. Headquartered in Columbus, Indiana, (USA)
Cummins serves customers in more than 160 countries through its
network of 550 Company-owned and independent distributor facilities
and more than 5,000 dealer locations. Cummins reported net income of
$715 million on sales of $11.4 billion in 2006. Press releases can be
found on the Web at www.cummins.com.
Information provided in this release that is not purely historical
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding the company's expectations, hopes, beliefs and intentions on
strategies regarding the future. It is important to note that the
company's actual future results could differ materially from those
projected in such forward-looking statements because of a number of
factors, including, but not limited to, general economic, business and
financing conditions, labor relations, governmental action, competitor
pricing activity, expense volatility and other risks detailed from
time to time in Cummins Securities and Exchange Commission filings.
CONTACT: Cummins Inc.
Mark Land, 317-610-2456
Director of Public Relations
SOURCE: Cummins Inc.