Global power leader in design, manufacturing, distribution and service of a broad portfolio of power solutions, Cummins Inc, on Wednesday, announced the signing of an agreement to acquire Jacobs Vehicle Systems (JVS).
A subsidiary of Altra Industrial Motion Corp., JVS is a leading supplier of engine braking, cylinder deactivation, start and stop and thermal management technologies.
A press statement from Cummins said that the agreement brings the addition of new technologies to provide growth opportunities for its current and future advanced diesel engine platforms. The acquisition of JVS also secures critical USMCA qualified engine components for current and aftermarket products and expands on Cummins Turbo Technologies’ success with customers globally.
The acquisition also represents another step forward in Cummins’ continued investment in key technologies to advance its path to zero emissions strategy that will reduce greenhouse gas emissions and lower the air quality impacts of their products. Engine braking and cylinder deactivation technologies will be critical components to meeting current and future emissions regulations, and this acquisition would allow Cummins to better integrate valuable components with its emissions-leading medium- and heavy-duty engines.
Cummins plans to maintain JVS’ customer relationships and offer improved value and other benefits to the customers of both companies. Operations from the acquisition will report into Cummins Turbo Technologies, a business unit led by Shon Wright, Vice President of Cummins Turbo Technologies, that resides within the company’s Components segment.
Jennifer Rumsey, President and Chief Operating Officer, Cummins, said, “JVS brings engineering expertise, best in class products and key manufacturing capabilities to Cummins that will allow us to continue developing component technologies that deliver market-leading performance and emissions. We expect that this transaction will provide both attractive financial returns and future growth opportunities for our company.”
“We’re excited about the prospect of welcoming employees from JVS into the Cummins organization and look forward to adding their deep engineering talent to complement our expertise as we work together to develop innovative and cost-effective products now and in the future,” said Wright.