( BW)(CUMMINS/FUEL-EFFICIENCY)(CMI.NYSE) Cummins Supports Government Efforts to Develop Greenhouse Gas Emission, Fuel Efficiency Standards for Medium- and Heavy-Duty Vehicles
Cummins Inc. (NYSE: CMI) today expressed its support for the development of first-ever standards governing greenhouse gas emissions and fuel efficiency for medium- and heavy-duty commercial vehicles.
President Barack Obama announced the Administration’s plans to create the standards at a White House event this morning. The president directed the U.S. Environmental Protection Agency and the National Highway Traffic Safety Administration to set national requirements for medium- and heavy-duty vehicles beginning with the 2014 model year.
Cummins supports the goals set by the Administration to reduce greenhouse gas emissions for commercial trucks by up to 20 percent while increasing fuel efficiency by as much as 25 percent by 2018.
“Cummins recognizes the need for a consistent and responsible set of standards to address the threat of greenhouse gas emissions and to reduce our nation’s dependence on fossil fuels,” said Cummins Chairman and Chief Executive Officer Tim Solso, who was in attendance at the White House event. “We are committed to working with regulators, our customers and others in the industry to achieve these important environmental improvements.
“Regulations that recognize the needs of business, offer clear direction and provide incentives to companies that create innovative technologies have the power to significantly benefit the environment while creating jobs in this country,” Solso added.
Cummins is a member of the Heavy-Duty Fuel Efficiency Leadership Group, an informal coalition of major trucking fleets and technology providers, which has pledged to work with federal agencies on the establishment of a strong national policy regulating greenhouse gas emissions and fuel efficiency. In addition, the Company sent a letter this week to federal regulators endorsing the establishment of new standards.
Cummins spends millions of dollars a year researching and developing technologies to improve fuel efficiency and reduce emissions. Today’s on-highway diesel engines in the U.S. emit 99 percent less particulate matter and nitrogen oxides than 30 years ago, and Cummins’ heavy-duty engines introduced this year offer 5 percent improved fuel efficiency compared to comparable models made in 2009.
Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins serves customers in approximately 190 countries and territories through a network of more than 500 company-owned and independent distributor locations and approximately 5,200 dealer locations. The Company reported net income attributable to Cummins Inc. of $428 million on sales of $10.8 billion in 2009. Press releases can be found on the Web at www.cummins.com.
Forward-looking disclosure statement
Information provided in this release that is not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the company’s expectations, hopes, beliefs and intentions on strategies regarding the future. It is important to note that the company’s actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including, but not limited to, general economic, business and financing conditions, labor relations, governmental action, competitor pricing activity, expense volatility and other risks detailed from time to time in Cummins Securities and Exchange Commission filings.
Mark Land, Executive Director - Corporate Communications, 317-610-2456
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