14 May 2001
Cummins Inc. confirmed that it had mutually agreed with International Truck and Engine Corporation (Navistar) to end discussions on a potential heavy-duty engine development and manufacturing joint venture.
Cummins said that over the last several months it had signed long-term supply agreements with three of the world’s leading truck manufacturers: PACCAR, International Truck and Engine Corporation, and Volvo Trucks North America. Cummins has also been chosen by DaimlerChrysler Corporation to be the exclusive diesel engine supplier for the next-generation Dodge Ram 2500/3500 pickup truck to be introduced in the 2003 model year. Cummins indicated that it will continue to explore a variety of approaches to restructuring its participation in the North American heavy-duty truck engine market.
Cummins also confirmed that its engine product line will meet the deadline to produce lower emissions engines as outlined in a consent decree Cummins signed in 1998.
In 2000, Cummins reported record sales of $6.6 billion.