Cummins Buys Two Faurecia Commercial Vehicle Manufacturing Plants For EUR 199.2 Mln

(RTTNews) - Cummins Inc. (CMI), an engine manufacturer, announced on Monday that it has completed the acquisition of two Faurecia commercial vehicle manufacturing plants in the United States and the Netherlands for 199.2 million euros in cash.

For more than a decade Faurecia has been a partner and supplier to Cummins. With this acquisition the company expects to add technical and manufacturing resources and enhance its existing mixer portfolio.

"This acquisition provides an opportunity for the Cummins Emission Solutions business to ensure continued access to the technology and facilities it needs to meet current and future demand for low-emissions products and to ensure continuity for both the employees and customers of the acquired manufacturing facilities," the company said in a statement.

On Friday, the shares of Cummins closed at $228.46 down 1.23% on the New York Stock Exchange.