Cummins Acquires Parts of Faurecia's Commercial Vehicle Exhaust Business For €142M
Portfolio Pulse from Shivani Kumaresan
Cummins Inc (NYSE:CMI) has agreed to acquire two commercial vehicle manufacturing plants from Faurecia, a FORVIA Group company, for €142 million. The facilities are located in Columbus, Indiana, and Roermond, Netherlands. The acquisition is expected to close by the end of the calendar year.
May 23, 2023 | 11:44 am
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Cummins Inc (NYSE:CMI) is set to acquire two commercial vehicle manufacturing plants from Faurecia for €142 million, enhancing its mixer portfolio.
The acquisition of the two manufacturing plants from Faurecia will enhance Cummins' mixer portfolio and add significant technical and manufacturing resources. This is expected to have a positive impact on Cummins' business operations and create value for customers and suppliers. The transaction is expected to close by the end of the calendar year, and Cummins will finance the acquisition using cash on its balance sheet.
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