Cummins Announces Middle East Deal

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COLUMBUS -

Columbus-based Cummins Inc (NYSE: CMI) has announced the formation of a joint venture in the Middle East. Cummins is partnering with The Olayan Group in Saudi Arabia to form Cummins Arabia, which will consolidate distribution operations in three countries.

The joint venture will east distribution in the United Arab Emirates, Saudi Arabia and Kuwait. Currently, Cummins products are distributed to those countries by three different distributors, owned by either Cummins or Olayan. 

"Cummins is pleased to partner with Olayan, which is a highly respected leader in the global distribution business," said Tom Linebarger, CEO of Cummins. "Olayan brings years of Middle East experience, and this partnership provides opportunities for our companies to grow and expand in this region while enhancing the service and support we provide to customers."

The joint venture will be implemented in the second half of 2016 and will be headquartered in Saudi Arabia. Cummins says the partnership will allow the company to not only expand access to the Saudi and Kuwaiti markets, but also provide training and employment of nationals in each country. 

Olayan and Cummins have had a working relationship since the mid-1950s. Lubna Olayan, CEO of Olayan Financing Co., says the new joint venture is a "win-win proposition" for both companies and their customers.

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