Record Q3 for Cummins
25 April 2008
Engine and component manufacturer Cummins has reported a record third quarter for the period ending 31 October 2006. Sales for the period were US$2.81 billion, a 14% increase on the $2.47 billion in Q3 2005. Earnings before interest and taxes (EBIT) rose 23% to $296 million.
Cummins chairman and CEO,Tim Solso, said, “We performed well in the third quarter and see great opportunities for the future. In particular, our power generation and distribution businesses enjoyed significant growth, both in terms of revenue and profit.”
In addition to the strong figures, Cummins announced that it has signed a joint venture agreement with Beiqi Foton Motor Company in China. The agreement will see the two companies produce 2.8 and 3.8 litre engines for the light commercial vehicle market in China from 2008.
