Cummins, International end joint-venture talks
COLUMBUS, Ind. (May 14, 2001) — Cummins Inc. said today that it has ended talks with International Truck & Engine Corp. on a potential joint venture to build heavy-duty truck engines.
In a press release, Cummins said it planned to explore other ways to cut costs and build relationships with original equipment manufacturers as it tries to restore the profitability of its heavy-truck engine business.
Cummins noted that over the last several months it had signed long-term supply agreements with three of the world’s leading truck manufacturers — PACCAR, International Truck and Engine Corporation, and Volvo Trucks North America.
Cummins was also chosen by DaimlerChrysler as the exclusive diesel engine supplier for its next-generation Dodge Ram 2500/3500 pickup truck to be introduced in the 2003 model year.
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