Cummins Announces Purchase of First Financial Bank Office Building to Meet Needs of Growing Professional Workforce

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    --  Company Plans to Add at Least 350 Jobs in the Next 18 Months
    --  Growth Fueled by Strong Performance in International Markets

COLUMBUS, Ind--(BUSINESS WIRE)-- Cummins Inc. (NYSE:CMI) announced today that it has reached an agreement to purchase the First Financial Bank branch and office tower at 500 Washington St. in Columbus to meet the demand for office space for its growing Southern Indiana workforce.

Cummins plans to add at least 350 professional employees to the local workforce over the next 18 months, largely as result of the Company's expected strong growth around the world over the next several years. The new jobs will be in engineering, technical and other professional positions, and will support Cummins' global operations.

Cummins, which currently employs about 6,000 people in Indiana, began moving employees into its newest office in downtown Columbus in 2009. That building is expected to be filled in early 2011.

"Our success in our global markets has a direct benefit to Indiana where we are creating the kind of high-paying professional jobs that strengthen our community," said Cummins Chairman and Chief Executive Officer Tim Solso. "Simply put, growth in international markets like India, China and Brazil create jobs in Indiana."

"Growth in international markets is once again creating hundreds of opportunities for Hoosiers," said Indiana Gov. Mitch Daniels. "This is the company's second major expansion in just a few months which is further indication that Indiana continues to be the global location of choice for businesses."

The State of Indiana is providing Cummins with tax incentives to support the job growth as well as providing financial resources and other support to the community to enhance its educational systems.

"We cannot create good jobs without the education infrastructure to support them," said Cummins President and Chief Operating Officer Tom Linebarger. "That is why we applaud Indiana's investment in programs that will strengthen our education system."

Cummins also recognizes Lilly Endowment, Heritage Fund and the Community Education Coalition for their continued support of advanced manufacturing education programs across South and Central Indiana through the Economic Opportunities 2015 program. The program is designed to create job opportunities in a 10-county region through improved access to the education and skills necessary to succeed in today's advanced manufacturing environment.

The First Financial Bank buildings provide an ideal location for additional offices for Cummins' growing workforce. They are directly across the street from the company's Corporate Office Building in the heart of downtown Columbus.

Cummins expects to close on the buildings by the end of this year and take possession by the end of the first quarter 2011. First Financial has plans to build a new Columbus complex on property at Third and Brown streets in downtown Columbus.

This is Cummins' second significant jobs announcement in Indiana in recent months. In July, Cummins announced a $100 million investment in an expansion of its High-Horsepower Technical Center and production line in Seymour. Cummins expects to add as many as 200 engineering and technical jobs over the next five years.

About Cummins

Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins serves customers in approximately 190 countries and territories through a network of more than 500 company-owned and independent distributor locations and approximately 5,200 dealer locations. The Company reported net income attributable to Cummins Inc. of $428 million on sales of $10.8 billion in 2009. Press releases can be found on the Web at www.cummins.com. Follow Cummins on Twitter at http://twitter.com/cummins.

Forward-looking disclosure statement

Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, beliefs and intentions on strategies regarding the future. It is important to note that the company's actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to, general economic, business and financing conditions, labor relations, governmental action, competitor pricing activity, expense volatility and other risks detailed from time to time in Cummins Securities and Exchange Commission filings. 


    Source: Cummins Inc.

Released October 26, 2010