Cummins Inc. (NYSE: CMI) announced today that it has completed the acquisition of the emission control assets of Hilite International in Marktheidenfeld, Germany. The Hilite assets are now part of Cummins Emission Solution (CES), positioning the company to serve all major market applications with a Cummins doser.
Cummins Chairman and Chief Executive Officer Tom Linebarger said, "The Hilite acquisition demonstrates how Cummins benefits from macroeconomic trends that support our future growth, such as globalization, increasingly stringent emission standards and energy availability. Adding Hilite's technology and capabilities will help Cummins continue to capitalize on these macroeconomic trends and grow into the future.”
The selective catalytic reduction dosing (SCR dosing) system developed by Hilite will complement existing Cummins aftertreatment technology, which includes controls, sensors, catalysts, substrates and packaging.
“This acquisition puts Cummins in a strong position to meet the needs of current customers and grow into new markets, especially as an increasing number of regions around the world adopt tougher emission standards,” said Srikanth Padmanabhan, Vice President and General Manager of CES. “Our strength is our ability to effectively integrate all of the aftertreatment technology for efficient and clean diesel power.”As part of the acquisition, 133 former Hilite employees have joined Cummins and the business will continue to operate from the plant at Marktheidenfeld for the foreseeable future. The market for aftertreatment products is expected to grow as governments around the world adopt tougher emissions regulations. Over the past decade, regulatory agencies in the United States and the European Union have tightened the level of permissible emissions of particulate matter (PM), oxides of nitrogen (NOx), carbon monoxide (CO), and un-burnt hydrocarbons (HC). Mature market on-highway standards are now being implemented in emerging markets like China, India, Brazil and Russia, as well as off-highway markets primarily in the United States, Europe and Japan.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV