CMI - Cummins to acquire parts of Faurecia's Commercial Vehicle Exhaust business for Euro142M

2023-05-23 05:39:20 ET

• Cummins ( NYSE: CMI ) to purchase two of Faurecia’s commercial vehicle manufacturing plants and their related activities located in Columbus, Indiana (U.S.), and Roermond, Netherlands for €142M.
• This acquisition will enhance Cummins’ existing mixer portfolio.
• The company intends to finance the transaction using cash on the company’s balance sheet.
• The transaction is expected to close by the end of the calendar year, subject to regulatory approvals in the United States, Germany and the Netherlands.
• Cary Chenanda, Vice President of Cummins Emission Solutions stated, "Signing this agreement marks a significant milestone in our partnership with the Roermond and Columbus facilities, but it does not change our relationship in other global locations. We will maintain ongoing relationships with Faurecia in Brazil, China, India and South Africa.”

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