Cummins Announces Extended Contract
10-27-2003, 10:25 AM
#1
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Cummins Announces Extended Contract
Good news from Mother Cummins.
CUMMINS INC. EXCLUSIVE DIESEL ENGINE SUPPLY AGREEMENT EXTENDED BY DAIMLERCHRYSLER
For Immediate Release
Columbus, IN - 27 Oct 2003
Cummins Inc. (NYSE:*** - News) today announced that it has extended its exclusive supply agreement with DaimlerChrysler Corporation's Chrysler Group for diesel engines used in the Dodge Ram heavy-duty pickup truck. Although specific terms of the agreement were not disclosed, the engine system agreement includes consideration of Cummins as a supplier for the diesel engine aftertreatment system. The agreement additionally paves the way for collaboration on diesel engine technology beyond the length of the contract.
Cummins supplies the 5.9 liter turbodiesel for use in the Dodge Ram 2500 and 3500 Series pickup trucks. The diesel engine exhaust system components under consideration would be provided by Fleetguard, a wholly-owned Cummins business unit. Earlier this year, Cummins shipped its one millionth diesel engine for the Dodge Ram, which was named the Motor Trend Magazine's 2003 Truck of the Year.
"We continue to invest in the right technologies to ensure that our capabilities to integrate diesel engines and systems for the Dodge Ram are second to none," said Joe Loughrey, Cummins President - Engine Business. "This agreement builds on our 15-year relationship with the Chrysler Group and recognizes the value of our partnership."
Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins serves its customers through more than 500 company-owned and independent distributor locations in 131 countries and territories. With 23,700 employees worldwide, Cummins reported sales of $5.9 billion in 2002. Press releases can be found by accessing the Cummins home page at http://www.cummins.com.
Cummins Announces Extended Contract with Dodge
CUMMINS INC. EXCLUSIVE DIESEL ENGINE SUPPLY AGREEMENT EXTENDED BY DAIMLERCHRYSLER
For Immediate Release
Columbus, IN - 27 Oct 2003
Cummins Inc. (NYSE:*** - News) today announced that it has extended its exclusive supply agreement with DaimlerChrysler Corporation's Chrysler Group for diesel engines used in the Dodge Ram heavy-duty pickup truck. Although specific terms of the agreement were not disclosed, the engine system agreement includes consideration of Cummins as a supplier for the diesel engine aftertreatment system. The agreement additionally paves the way for collaboration on diesel engine technology beyond the length of the contract.
Cummins supplies the 5.9 liter turbodiesel for use in the Dodge Ram 2500 and 3500 Series pickup trucks. The diesel engine exhaust system components under consideration would be provided by Fleetguard, a wholly-owned Cummins business unit. Earlier this year, Cummins shipped its one millionth diesel engine for the Dodge Ram, which was named the Motor Trend Magazine's 2003 Truck of the Year.
"We continue to invest in the right technologies to ensure that our capabilities to integrate diesel engines and systems for the Dodge Ram are second to none," said Joe Loughrey, Cummins President - Engine Business. "This agreement builds on our 15-year relationship with the Chrysler Group and recognizes the value of our partnership."
Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins serves its customers through more than 500 company-owned and independent distributor locations in 131 countries and territories. With 23,700 employees worldwide, Cummins reported sales of $5.9 billion in 2002. Press releases can be found by accessing the Cummins home page at http://www.cummins.com.
Cummins Announces Extended Contract with Dodge
10-27-2003, 10:33 AM
#2
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Re:Cummins Announces Extended Contract
[quote author=Shovelhead link=board=3;threadid=21575;start=0#msg202065 date=1067271957]
Good news from Mother Cummins.
Cummins Announces Extended Contract with Dodge
[/quote]
Welp, we know the previous contract was until 2007, so this one could have been an extension of anywhere between 12 and 60 months maybe? I wish they would have told us the amount of time to expiration. I think that's important to get out there so the people know that Cummins and Dodge are going to be partners for a long time, especially with all of the rumors on MB engines coming into play. Doesn't look like that'll happen for a while
Note the term "exclusive" in the press release.
Good news from Mother Cummins.
Cummins Announces Extended Contract with Dodge
[/quote]
Welp, we know the previous contract was until 2007, so this one could have been an extension of anywhere between 12 and 60 months maybe? I wish they would have told us the amount of time to expiration. I think that's important to get out there so the people know that Cummins and Dodge are going to be partners for a long time, especially with all of the rumors on MB engines coming into play. Doesn't look like that'll happen for a while
Note the term "exclusive" in the press release.
10-27-2003, 01:17 PM
#3
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Re:Cummins Announces Extended Contract
Ok guys, more information. I talked to Cummins this afternoon because I wanted to inquire on the term of the contract. I got a super nice guy on the phone and he explained that unitl all the details are worked out, the specifics of the contract cannot be made public yet, but that information will become available later. I don't have a specific date, but keep your eyes and ears open.
He did go on to say that the contract extension is FROM the 2007 expiration of the latest contract, so that is good news in terms of the engine being around for at least a few more years. Both companies feel the relationship is very strong, and I would agree with the gentleman that Cummins makes the truck, and the truck makes the ISB. With the improvements that Dodge has made on this truck, I expect it to be a winner for a long time to come. SO, in my opinion, this is great news. I'll keep you guys posted if I can obtain more information.
Jack
He did go on to say that the contract extension is FROM the 2007 expiration of the latest contract, so that is good news in terms of the engine being around for at least a few more years. Both companies feel the relationship is very strong, and I would agree with the gentleman that Cummins makes the truck, and the truck makes the ISB. With the improvements that Dodge has made on this truck, I expect it to be a winner for a long time to come. SO, in my opinion, this is great news. I'll keep you guys posted if I can obtain more information.
Jack
10-30-2003, 04:59 PM
#4
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Re:Cummins Announces Extended Contract
See Jack...what did I tell you the other day on the other forum? Ask like the reporter I know you are and you'll get the rep to answer you.
11-20-2003, 09:48 AM
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Re:Cummins Announces Extended Contract
I heard some intresting news on this today,
According to the service manager at my dealer the agrement has not been signed yet!!
There is some argument about Calif engines.
Calif wants catilatic concerters on diesels & Cummins is not wanting to put them on.
This seems to be a big deal at Cummins & they are even slowing down the delivery of engines to the assembly plant.
According to the service manager at my dealer the agrement has not been signed yet!!
There is some argument about Calif engines.
Calif wants catilatic concerters on diesels & Cummins is not wanting to put them on.
This seems to be a big deal at Cummins & they are even slowing down the delivery of engines to the assembly plant.
11-20-2003, 10:32 AM
#6
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Re:Cummins Announces Extended Contract
The gentleman I talked to at Cummins, the one who is in charge of PR there for the announcment said it was signed. I don't think there is a need to worry about that. They wouldn't have made a press release unless it was signed.
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