Cummins Inc is reporting their net income for its third quarter was $452 million, up 60 percent from the same period a year ago. According to Cummins, the growth was driven by global mining and oil and gas markets.
Spokeswoman Janet Williams says a global demand for infrastructure development and energy needs have influenced the Columbus based companies continued growth.
“We have really just positioned ourselves to take advantage of some longer term, global trends,” she says.
Williams says Cummins is currently producing backup generators that remote areas and developing nations are using to aid with their infrastructure development. She also attributes the growth to the company’s ability to develop cleaner, more fuel efficient technology. She says she expects to see Cummins continue to grow.
Next week the company is expanding its engine manufacturing capabilities at its plant in Seymour, Indiana.