Cummins buys shares in the Navierdy Jianghuai joint venture

Hefei, Anhui, May 11, 2018 – Cummins Inc. (NYSE: CMI) formally signed an agreement with Anhui Jianghuai Automobile Group Co., Ltd. (hereinafter referred to as JAC Auto, Shanghai Stock Exchange: 600418). 50:50 joint venture company. Earlier, Cummins Corporation has entered into an equity transfer agreement with Navistar Corporation to purchase a 50% stake in Anhui Jianghuai Navistar Diesel Engine Co., Ltd. held by Navistar.
 
Steve Chapman, Group Vice President of Cummins’s China and Russia operations, said: “I am very happy that we can build on the long-term cooperation with JAC. JAC is one of the most respected Chinese automobile manufacturers. We are highly consistent in values and many concepts, are oriented to customer needs, and are committed to excellence in every area. Through enhanced cooperation, we will focus on the present and future, providing customers with high quality, fuel-efficient and environmentally friendly High-quality products to achieve the best match, to create a unique competitive advantage for both parties."
Contract Signing- CMI-JAC.jpg

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