Cummins Inc. (NYSE: CMI) today announced that it has entered into an accelerated share repurchase (ASR) agreement with Goldman, Sachs & Co. LLC (GS&Co.) to repurchase $500 million of Cummins’ common stock. Today’s ASR is part of Cummins’ previously announced share repurchase plans authorized by the Board of Directors and is consistent with the company’s plans to return 75 percent of Operating Cash Flow to shareholders in 2018.
“We are building the most important diesel research center in the world,” longtime Cummins Chairman and CEO J. Irwin Miller said a half century ago. “…We mean business. We mean never again to have to respond to a competitor’s development. We mean to beat him on each move, and be out first with a product so clearly superior in economy, bulk, weight and long life that our excellence does not have to be argued.”
CUMMINS’ JAMESTOWN ENGINE PLANT IN JAMESTOWN, NEW YORK (U.S.A) IS FAST DEVELOPING A REPUTATION FOR ENERGY EFFICIENCY AND REDUCING GREENHOUSE GASES (GHGs).
The plant recently showcased its latest initiative, a $47 million block machining line that utilizes on-demand hydraulics, coolant and pneumatics to reduce energy consumption as it produces the company’s high efficiency diesel and natural gas heavy duty engines.
Whether it’s making sure you are prepared for the heart of hurricane season, confirming you and your kids have a family-communicated disaster plan, or ensuring your home is ready for Old Man Winter, now is the time to get all your ducks in a row.
To prepare the outside of your home, take a look around your property:
CUMMINS GENERATOR TECHNOLOGIES (CGT) APPRENTICES IN THE UNITED KINGDOM HAVE BEEN WORKING ON A PROJECT THAT SOME ENGINEERS MIGHT ONLY DREAM ABOUT: RESTORING A 1930 MERRYWEATHER FIRE ENGINE.
For most of its life, the fire engine belonged to the town of Stamford in the U.K. and was based at the local fire station. After falling into disrepair, mechanics made several failed attempts to restore the historic piece.
CUMMINS HAS OPENED ITS FIRST TECHNICAL CENTER FOCUSED ON RESEARCH AND DEVELOPMENT IN REMANUFACTURING, A KEY COMPONENT OF THE COMPANY’S ENVIRONMENTAL SUSTAINABILITY STRATEGY.
The new center is adjacent to the company’s campus in San Luis Potosi, Mexico, which also includes a remanufacturing plant.
When it comes to actual damage, two elements cause the most--water from storm surge or relentless rains and wind. Secondary to wind and water are the destruction both leave behind. Power outages. Flooding. Building destruction.
In May 2017, Cummins and The Olayan Group launched Cummins Arabia, a 50:50, three-country distribution joint venture company in the Middle East.
CUMMINS RISK INSURANCE COORDINATOR CHRISTINA ECKERT HAS STRUGGLED WITH WEIGHT HER ENTIRE LIFE.
“When I lost a little, I’d catapult right back up the scale as soon as I stopped sacrificing,” she said. “In June 2016, I also had severe lower back pain and a torn heel. It hurt to walk, so I walked less. Then the Cummins LiveWell Center opened.”
CUMMINS MADE PROGRESS ON THE COMPANY'S GOALS FOR REDUCING ITS ENVIRONMENTAL IMPACT IN 2016, ESPECIALLY FOR WATER AND ENERGY. THE COMPANY HAS ESTABLISHED NEW 2020 GOALS IN THOSE TWO AREAS.
“The environmental teams around the globe worked hard on making progress on our established goals and setting two new aggressive ones,” said Mark Dhennin, Cummins’ Director of Energy Efficiency and Environment.