Cummins Secures Large Engine Order From Beijing Public Transport
COLUMBUS, Ind.--(BUSINESS WIRE)--
Cummins Inc. (NYSE:CMI) announced today that Beijing Public Transport Holdings Ltd. (BPT) has ordered 1,400 Cummins Euro IV diesel engines and 250 Cummins Westport Euro III compressed natural gas engines to power transit buses in China's capital city.
With this order, Cummins and Cummins Westport, a joint venture of Cummins and Westport Innovations, will power more than 13,000 of BPT's 24,000-bus fleet.
"This is the largest order of Euro IV diesels in the Chinese bus market," said Steve Chapman, Group Vice President - Emerging Markets and Businesses. "We are honored to have worked in partnership with BPT since 1998 by providing dependable and environmentally-friendly diesel and natural gas engines. These efforts will continue to contribute to the air quality improvement in Beijing."
The order is part of BPT's ambitious fleet upgrade plan in advance of the 2008 Summer Olympic Games in Beijing.
"With 13 factories now in China, Cummins continues to demonstrate its commitment to providing domestically-manufactured as well as imported options to meeting emissions and customer requirements," Chapman said.
China began adopting European on-highway emission standards in 2001 and the countrywide environmental standard is now Euro II. Beijing leads the country in terms of emission compliance with Euro III being the current standard, and the capital city will move to Euro IV in 2008.
Cummins is the largest supplier to China's nationwide Euro III/IV diesel bus engine market and is the largest supplier in the country's natural gas transit bus engine sector.
About Beijing Public Transport (BPT)
Beijing Public Transport (BPT) is a state-owned enterprise operating surface public transport in Beijing, and is one of the largest operators of compressed natural gas-powered vehicles in the world. BPT operates more than 24,000 vehicles of various types on 773 bus routes.
Cummins in China
Cummins is the largest foreign investor in the China diesel engine industry. The Company's ties to the country date back to 1975 when then-CEO J. Irwin Miller led the first Cummins delegation to Beijing, making him one of the first American business leaders to seek opportunities in China.
Cummins began licensing its engine technology in China in 1981 and formed its first joint venture in the country in 1995. Today, Cummins operates more than 20 facilities in China with more than 5,400 staff, 12 distributor locations, one regional R & D center and 13 manufacturing plants producing eight of the 14 Cummins engine families, turbochargers, filters, exhaust systems, fuel systems, alternators and gensets, with all areas of the Company's business represented in China.
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 more than 160 countries through its network of 550 Company-owned and independent distributor facilities and more than 5,000 dealer locations. Cummins reported net income of $715 million on sales of $11.4 billion in 2006. Press releases can be found on the Web at www.cummins.com.
Forward-looking statements disclosure
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 June 15, 2007