“Market Cap $27.39 B As of May 2014
At a Glance
- Industry: Heavy Equipment
- Founded: 1919
- Country: United States
- CEO: N Thomas Linebarger
- Website: www.cummins.com
- Employees: 47,900
- Sales: $17.3 B
- Headquarters: Columbus, Indiana
#496 Global 2000
- #547 in Sales
- #450 in Profit
- #1343 in Assets
- #401 in Market value
Cummins, Inc. operates as a diesel engine manufacturing company. It engages in the designing, manufacturing, marketing, distribution and servicing of diesel and natural gas engines, electric power generation systems and engine-related component products, including filtration, exhaust after-treatment, fuel systems, controls, air handling and power generation systems. Cummins sells its products to original equipment manufacturers, distributors and other customers worldwide. The company operates in four segments: Engine, Power Generation, Components and Distribution. The Engine segment manufactures and markets a broad range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, agricultural, construction, mining, marine, oil and gas, rail and governmental equipment markets. The Components segment supplies products which complement its Engine segment, including filtration products, turbochargers, after-treatment systems, intake and exhaust systems and fuel systems for commercial diesel applications. The Components segment consists of four businesses: Emission Solutions, Turbo Technologies, Filtration and Fuel Systems. The Power Generation segment designs and manufactures most of the components that make up power generation systems, including engines, controls, alternators, transfer switches and switchgear. The Power Generation businesses segment consists of Commercial Products, Generator Technologies, Commercial Projects, Consumer and Power Electronics. The Distribution segment consists of many company-owned and joint venture distributors that serves and distributes its products and services to end-users. The Distribution segment consists of Parts and Filtration, Power Generation, Engines and Service. The company was founded by Clessie Lyle Cummins and William Glanton Irwin on February 3, 1919 and is headquartered in Columbus, IN.“
Today, Cummins is a multinational Fortune 500 company that operates and serves customers around the globe. At the same time, Cummins retains strong ties to its Indiana home, where the Company’s headquarters remain.
Cummins’ roots are planted in soil nourished by innovation, persistence and a commitment to community. Founded in Columbus, Ind., in 1919 as Cummins Engine Company, for its namesake Clessie Lyle Cummins, the fledgling firm was among the first to see the commercial potential of an unproven engine technology invented two decades earlier by Rudolph Diesel.
Fortunately for Clessie Cummins, a self-taught mechanic and inventor, his vision was shared by someone with the financial resources to make it a reality: William Glanton (W.G.) Irwin, a successful local banker and investor, who already had provided financial backing for Cummins’ auto mechanic operation and machine shop.
After a decade of fits and starts, during which time the diesel engine failed to take hold as a commercial success, a stroke of marketing genius by Clessie Cummins helped save the Company. Cummins mounted a diesel engine in a used Packard limousine and on Christmas day in 1929 took W.G. Irwin for a ride in America’s first diesel-powered automobile. Irwin’s enthusiasm for the new engine led to an infusion of cash into the Company, which helped fuel a number of speed and endurance records in the coming years – including a grueling 13,535-mile run at the Indianapolis Motor Speedway in 1931. Such feats earned Cummins’ foothold as an engine supplier to the trucking industry.
Still, publicity alone could not carry the Company; Cummins needed reliable products and a sound business organization. In 1933, the company released the Model H, a powerful engine for transportation that launched the company’s most successful engine family. J. Irwin Miller, great-nephew of W.G. Irwin, became general manager in 1934 and went on to lead the company to international prominence over the next four decades. By marketing high-quality products through a unique nationwide service organization, the Company earned its first profit in 1937. Three years later, Cummins offered the industry’s first 100,000-mile warranty.
By the 1950s, America had embarked on a massive interstate highway construction program, with Cummins engines powering much of the equipment that built the roads and thousands of the trucks that began to roll down them. Truckers demanded economy, power, reliability, and durability, and Cummins responded. By combining lab-based research and field-based trials, including dramatic performances at the Indy 500 races, Cummins achieved technological breakthroughs, including the revolutionary PT (pressure-time) fuel injection system of 1954. By the late 1950s, Cummins had sales of over $100 million and a commanding lead in the market for heavy truck diesels.
As Cummins continued to grow its business in the United States, the Company also began looking beyond its traditional borders. Cummins opened its first foreign manufacturing facility in Shotts, Scotland, in 1956 and by the end of the 1960s, Cummins had expanded its sales and service network to 2,500 dealers in 98 countries. Today, Cummins has more than 5,000 facilities in 197 countries and territories.
Cummins, led by the visionary leadership of J. Irwin Miller, forged strong ties to emerging countries such as China, India and Brazil, where Cummins had a major presence before most other U.S. multinational companies. Cummins has grown into one of the largest engine makers in both China and India, and for the past three years approximately half of the Company’s sales have been generated outside the United States.
Cummins is no longer just an engine business, but a global power leader with more than $17 billion in sales in 2013. We are a family of inter-related, yet diversified businesses that create or enhance value as a result of doing business with each other or having those relationships.
Cummins is organized around four business segments – Engine, Power Generation, Components Business and Distribution – and provides products and service to customers in more than 150 countries.
Cummins is a technology leader in the diesel engine market, with our employees working relentlessly to provide cutting-edge solutions to the increasingly difficult challenge of producing cleaner-running engines. For example, Cummins was the only company in the industry to meet the 2010 EPA standards for NOx emissions with the release in early 2007 of its new 6.7-liter turbo diesel for the Dodge Ram Heavy Duty pickup.
Clessie Cummins’ spirit of innovation and commitment to quality lives on nearly a century later in the nearly 46,000 Cummins employees who work to design, make and sell products that can be found in nearly every type of vehicle imaginable.”
*Information from Forbes.com and Cummins.com
**Video published on YouTube by “CumminsEngines“