Cummins on track for US$12 billion in sales for 2010

Thursday, May 13, 2010

Cummins Inc. expects sales to reach $12 billion this year, an 11 percent increase over 2009, and the Columbus diesel engine specialist is positioned for a period of sustained profitable growth when the economy rebounds from the recession, its top leader says.

Chairman and Chief Executive Officer Tim Solso, speaking at the company’s annual meeting Tuesday, says tougher emission standards mandated by federal law and rising fuel prices will drive more commercial buyers to seek out the company's products.

“We have a lot of trends working in our favor as we look forward and we are beginning to aggressively prepare for what we think will be a period of sustained growth,” Solso said.

Solso affirmed Cummins' long-term outlook, telling shareholders that he expects Cummins to reach $20 billion revenue in 2014.

Cummins shareholders also voted on Tuesday to elect the nine Cummins directors to the board for another year.

 

Source: Indy Star