Columbus-based Cummins Inc. (NYSE: CMI) is on the verge of partnering with another prominent automaker. The Wall Street Journal reports the engine manufacturer will announce an agreement Tuesday to supply Nissan Motor Co. with diesel engines for Titan pickup trucks. A Cummins spokesman is not confirming the report. The company says it is planning an economic development announcement Tuesday afternoon, which will involve a new engine partner and job creation. Cummins already supplies engines for Chrysler Group LLC pickups.
Last month, the Columbus City Council approved tax abatement for a $15 million facility in the city. The company says that project will create 25 positions and retain dozens of others.
The engine manufacturer recently appeared on this year's 50 Best u.S. Manufacturers list compiled by Industry Week magazine. Those rankings are based on factors including profit margin and revenue growth.
Source: Cummins Inc.