U.S. diesel engine maker Cummins is increasing exports to Latin America through a joint venture with Grupo Laeisz, an equipment distributor in Honduras.
Cummins Centroamérica will distribute Cummins engines, generators and parts in Costa Rica, Honduras and El Salvador, the companies said Thursday.
The distribution agreement includes products from Ingersoll Rand Air Solutions Group that are complementary and non-competitive with Cummins products. The joint venture will help Cummins “significantly expand” in the growing Central American market, said Pamela Carter, president of Cummins Distribution.
Cummins expects revenue to increase 10 percent in 2012, buoyed by strong demand for trucks and construction, mining and power-generation equipment. The manufacturer’s revenue jumped 36 percent in 2011 to $18 billion, with strong growth in most geographic regions, the Columbus, Ind.-based company said.