|
Go To
|
Headquarters:
Website: http://www.cummins.com Cummins and its business units design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Cummins engines can be found in a variety of industries, from oil rigs to boats, recreational vehicles, construction vehicles, military vehicles and Chrysler's Dodge Ram trucks. Cummins serves customers in approximately 190 countries and territories through a network of more than 600 Company-owned and independent distributor locations and 6,000 dealer locations. Cummins reported record net income in 2010 of $1.04 billion on sales of $13.23 billion, up 22% from the previous year. Three of the Company's four business segments - Engine, Components and Distribution - reported full-year record earnings, while Power Generation also posted strong sales and profit gains from the previous year. The Company's strong performance in 2010 came despite a significant decline in its important North American truck engine markets, which were affected by the continued weakness in the U.S. economy and a change in emissions standards. Engine shipments to the North American heavy-duty truck market fell 61 percent and 44 percent to the North American medium-duty truck and bus markets. Sales in China and Brazil increased by more than 70 percent, while sales in India rose 37 percent for the year. Cummins' total international sales increased by 48 percent from 2009 and accounted for 64 percent of the Company's total sales in 2010. "2010 was the best year in the Company's history," said Chairman and Chief Executive Officer Tim Solso. "The fact that we were able to achieve record profitability in the face of a sharp decline in large North American on-highway markets speaks to the global strength of our business and the work we did to keep the Company strong during the recession." History The Cummins Engine Company was incorporated on February 3, 1919. William Glanton "W.G." Irwin-a successful Columbus banker-investor who supported several local entrepreneurs-supplied the starting capital. The new company's namesake, Clessie Lyle Cummins, was a self-taught mechanic-inventor. The Irwins hired him in 1908 to drive and maintain their car, and later set him up in business as an auto mechanic. During World War I, Clessie operated a machine shop that thrived on government contracts. By then, he was convinced that an engine technology invented by Rudolph Diesel in the 1890s-while still unproven commercially-held great promise for its fuel economy and durability. To enter the business, Cummins secured manufacturing rights from a Dutch diesel licensor named Hvid. The first Hvid engines made by Cummins in 1919 were six-horsepower, four-cycle models used for stationary power. Like other diesel licensees, Cummins found the technology to be underdeveloped and unsalable. But with the assistance of a bright former Hvid engineer named H.L. Knudsen, Clessie began working on his own designs. He soon produced a pioneering single-disk fuel system. Benefits Here are some benefits offered to employees: - Paid Group Medical & Dental Insurance Updated February 6, 2011 |