Cummins completes acquisition of Siemens’ CV business
By Bradley Osborne - 12th December 2022
USA / Germany – Cummins Inc of Columbus, Indiana, USA has announced the completion of subsidiary Meritor’s acquisition of Siemens’ Commercial Vehicles business for approximately EUR190m.
The acquisition was first proposed earlier this year by Meritor, which was subsequently acquired itself by Cummins in August. The transaction brings Siemens’ expertise in direct drive and transmission-based remote mount electric motors, inverters, and associated software to the American engine manufacturer, along with approximately 200 employees based in Germany, China, and the USA. These workers will now report through the Cummins New Power business unit.