Cummins to Acquire N.C. Engine Company

Diesel engine maker Cummins Inc. said Friday it concluded joint ventures with two companies and that it will purchase a stake in a North Carolina engine company, which will become a Cummins unit.

Cummins said it will purchase the equity stake in Consolidated Diesel Company, based in Whitakers, N.C., and will sell its interest in the European Engine Alliance.

Terms were not disclosed. CDC makes mid-range diesel engines in the 550-600 horsepower range, a company official said.

It purchased the equity stake from CNH Global N.V., and concluded joint ventures with CNH and Iveco N.V., two Fiat Group companies.

The European Engine Alliance was established in 1996 as a joint venture between Cummins and the two Fiat units.