Cummins Announces Conclusion of Joint Ventures With CNH Global N.V. and Iveco N.V.

COLUMBUS, IN – Cummins Inc. has concluded its joint ventures with CNH Global N.V. (CNH) and Iveco N.V., two Fiat Group companies. Under the new agreement, Cummins will purchase CNH’s equity stake in Consolidated Diesel Company (CDC) and will sell its interest in the European Engine Alliance, according to www.businesswire.com.

CDC, which is located in Whitakers, N.C., will become a wholly-owned entity of Cummins Inc. Cummins entered the highly successful joint venture with Case Corporation in 1980, and has produced more than 2.7 million mid-range engines. Cummins will purchase CNH’s 50 percent interest in CDC.

The European Engine Alliance (EEA) was established in 1996 as a joint venture between Cummins and two Fiat Group companies, Iveco N.V. and New Holland, which is now CNH Global N.V., to develop a new generation of 4, 5 and 6L engines. EEA includes manufacturing assets in Turin, Italy. Cummins will sell its one-third interest in the EEA to Fiat Powertrain Technologies.