cummins inc (CMI) Key Developments
Cummins, Inc. to Expand its Memphis Distribution Operations
May 19 15
Cummins Inc. announced that the company will invest $6.7 million to expand its current parts and distribution center in Memphis, creating 70 new jobs for Shelby County. By expanding the size of the Memphis PDC (parts distribution center), Cummins will be able to support the further growth of global supply chain requirements. This investment will allow the company to synchronize warehousing activities and optimize freight and transportation options, operations that are critical to the success of Cummins and its customer satisfaction. Cummins plans to begin expanding in June, with final completion expected in December 2015.
Cummins Announces Production of PowerCommand 3300 Controller
May 15 15
Cummins Inc. has announced the production of the PowerCommand, or PCC, 3300 controller for drilling operations. The PCC 3300 monitors, meters and serves as a control system for Cummins Drilling Power Modules, designed to maximize both engine efficiency and rig uptime through automated engine load management and enhanced system integration. Built and tested to perform in the harshest oil and gas drilling applications, Cummins PCC 3300 is the perfect tool for enabling smarter, more efficient rig operation and control under a single, integrated system. Cummins PCC 3300 communicates with Cummins DPMs and Kato or AVK alternators to form a truly integrated drilling power system. The system maximizes efficiency by allowing each engine and alternator to continuously communicate with each other, providing faster response time and greater load acceptance. The controller then uses that communication to automatically manage and distribute engine loads, activating and deactivating drilling power modules, automatically synchronizing and paralleling them and putting them on the bus as needed. Those real-time adjustments enable each drilling power module to deliver more power, faster. Not only is efficiency optimized by the Cummins PCC 3300, but rig productivity is improved through smarter drilling power module control. Cummins PCC 3300 allows the operator to preset load profiles, which automatically adjust loads between engines, bringing additional drilling power modules online as loads increase. Shutdown points can also be programmed, allowing drilling power modules to be taken offline as loads decrease. By optimizing the operation and shutdown of multiple modules automatically through load profiles, system response times are dramatically reduced. Cummins PCC 3300 also reduces the total cost of ownership by only running drilling power modules as needed, reducing idle run time and the associated fuel, oil and maintenance costs that come with it. Cummins PCC 3300 controller is an option on drilling power module packages designed and manufactured by the Cummins Oil and Gas Center of Excellence (COE) in Houston.
Cummins and Buhler Industries Announce Extension of Long-Term Supply Agreement
May 14 15
Cummins Inc. and Buhler Industries Inc. announced they have extended their global long-term engine supply agreement for U.S. Environmental Protection Agency (EPA) Tier 3, Tier 4 Interim and Tier 4 Final engines. As a part of the long-term supply agreement, Cummins is the engine supplier to Versatile agriculture equipment for Tier 3 QSL, QSM and QSX engines, Tier 4 Interim QSB6.7, QSL9, QSX11.9 and QSX15 engines, and Tier 4 Final QSB6.7, QSL9, QSG12 and QSX15 engines. Cummins diesel engines supply power to the full lineup of Versatile agriculture products, including row crop, four-wheel drive, DeltaTrack and scraper tractors, combines and sprayers.
Cummins Inc. Declares Quarterly Dividend, Payable on June 1, 2015
May 12 15
The Board of Directors of Cummins Inc. declared a quarterly common stock cash dividend of 78 cents per share, payable on June 1, 2015, to shareholders of record on May 21, 2015.
Agility Fuel Systems and Cummins Inc. Enters into Strategic Partnership at the Alternative Clean Transportation Expo in Dallas
May 5 15
Agility Fuel Systems and Cummins Inc. announced that at the Alternative Clean Transportation (ACT) Expo in Dallas that they have entered into a strategic partnership intended to improve the natural gas vehicle user experience, and to drive adoption of natural gas as a vehicle fuel for the heavy duty truck and bus markets. Under the terms of the agreement, Cummins will also invest an undisclosed amount in Agility Fuel Systems' equity. The partnership includes technology development and integration of software and hardware between the natural gas engine and the onboard fuel storage and delivery system, to significantly improve performance and uptime. Additionally, Agility and Cummins will integrate their sales and aftermarket support and distribution networks, to further enhance the end-user experience. Customers will soon be able to have service performed and obtain replacement parts for their natural gas-powered equipment at authorized Cummins distributor and OEM truck dealer locations in the United States and Canada.