Cummins Buys Out Hydrogenics By Acquiring Air Liquide's 19% Stake

(RTTNews) - Manufacturing and engineering company Cummins Inc. (CMI) announced on Friday that it is buying Air Liquide's 19 percent stake in Hydrogenics Corporation, a fuel cell and hydrogen production technologies provider.

Cummins had acquired Hydrogenics in 2019 and already owns 81 percent stake. The latest deal will lead to Cummins' full ownership of Hydrogenics, and thus the key fuel cell and electrolyzer technologies.

Hydrogenics will still continue to be one of Air Liquide's suppliers for electrolyzer projects.

On Thursday, shares of Cummins closed at $242 up 1.20% or $2.87 on the New York Stock Exchange.