Cummins Posting Significant Profits

The company expects 2011 sales to grow by nearly 30% from $13.2 billion in 2010 to $17 billion.

Photo:

Cummins posted high profit numbers and sees continued growth.

Cummins is projecting significant sales and profit growth in 2011 and beyond. The Columbus-based company is taking advantage of a number of long-term global economic trends and the recovery of key U.S. markets, chairman and Chief Executive Officer Tim Solso told shareholders during the company‘s annual meeting.

Cummins corporate communications director Mark Land says Cummins is expecting a prosperous next few years.

“When you take the continuation of very strong growth we see in emerging markets,” he said, “and add on to that a truck market that is improving, but has more improvement in it we think over the next 2-3 years, it sets the stage for our markets to be much better.”

The company expects 2011 sales to grow by nearly 30 percent from $13.2 billion in 2010 to $17 billion and earnings before interest and taxes to be 14 percent of sales this year, both company records.

Land says the company will continue to work to increase shareholder value.

“It was a very good year last year,” he said. “Our share value was up over 140 percent.”

The company also will significantly increase its investment in the business this year, expecting to spend as much as $650 million on capital projects to increase capacity and invest in new technologies and products for the future.

Network Indiana

Network Indiana Indiana's Only Audio News Network. Network Indiana is dedicated to providing the state of Indiana important and useful information.

View all posts by this author »

What is RSS? RSS makes it possible to subscribe to a website's updates instead of visiting it by delivering new posts to your RSS reader automatically. Choose to receive some or all of the updates from Indiana Public Media News:

Support For Indiana Public Media Comes From

Search News

Stay Connected

RSS e-mail itunes Facebook Twitter Flickr YouTube

Follow us on Twitter

What is RSS? RSS makes it possible to subscribe to a website's updates instead of visiting it by delivering new posts to your RSS reader automatically. Choose to receive some or all of the updates from Indiana Public Media News:

Recent Business & Economy Stories

Recent Videos

Find Us on Facebook