The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

Cummins Announces Joint-Venture Partnership in Central America

Wednesday, February 22, 2012

Cummins Announces Joint-Venture Partnership in Central America11:43 EST Wednesday, February 22, 2012 COLUMBUS, Ind. (Business Wire) -- Cummins Inc. (NYSE: CMI) and Grupo Laeisz announced today a joint-venture partnership to distribute and service Cummins engines, generators, and parts in a region that includes Costa Rica, El Salvador and Honduras. The new joint venture, to be called Cummins Centroamérica, will be an 80/20 joint venture. The agreement was signed in Honduras by Bernardo Hirsch, President of Grupo Laeisz, and representatives of Cummins. Laeisz has been a Cummins distributor in Honduras for more than 40 years, with subsequent expansion into El Salvador and Costa Rica. The new joint venture will include both Cummins brands and products from Ingersoll Rand Air Solutions Group, which are considered complementary and non-competitive with Cummins lines. Laeisz will also continue to sell other brands that are non-competitive with Cummins or the joint venture under their existing business, though all facilities will bear the Cummins brand. “I am delighted that we are expanding our long-term relationship with Grupo Laeisz, one of the leading and most respected equipment companies in Central America,” said Pamela Carter, President of Cummins Distribution. “The joint venture announced today creates the foundation for both partners to significantly expand in the equipment market in Central America, where strong, steady growth is projected.” “The relationship we have maintained with Cummins over nearly 42 years allows me to affirm that we have allied with a partner that I have known and grown to appreciate throughout the years. Our customers have learned to trust the Cummins brand as they have our company,” said Bernardo Hirsch, President of Grupo Laeisz. “The goal is that our customers enjoy the benefits of our products and services, custom designed to the market's needs, and contributing to the development of the Central American region,” said Hirsch. About Cummins 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 employs approximately 44,000 people worldwide and serves customers in approximately 190 countries and territories through a network of more than 600 company-owned and independent distributor locations and approximately 6,500 dealer locations. Cummins earned $1.85 billion on sales of $18.0 billion in 2011. Press releases can be found on the Web at Cummins Inc.Janet Williams, Director - Corporate Communications,