by Future Transport-News
03 Aug 2022
Suppliers Cummins Inc.
Cummins Completes Acquisition of Meritor
Global power and technology leader, Cummins Inc. (NYSE: CMI) today announced that it has completed its acquisition of Meritor, Inc., a leading global supplier of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets.
The integration of Meritor’s people, products and capabilities in axle and brake technology will position Cummins as a leading provider of integrated powertrain solutions across internal combustion and electric power applications. As demand for decarbonized solutions accelerates, ePowertrains will be a critical integration point within hybrid and electric drivetrains creating packaging and performance differentiation and the opportunity to provide advanced clean mobility products for customers. Cummins intends to deliver market-leading decarbonized solutions to global customers by accelerating Meritor’s investment in electrification and integrating development within its New Power business.
The acquisition of Meritor also adds products to Cummins’ components business that present attractive growth opportunities across the Company’s range of power solutions and applications. Cummins expects to utilize its global footprint to accelerate the growth of these core axle and brake businesses by serving commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world.
“We are excited to welcome Meritor’s employees into Cummins. Together, Cummins and Meritor will move further and faster in developing economically viable decarbonized powertrain solutions that are better for people and our planet.”
“Cummins can help grow Meritor’s core business given our sales and service network and customer relationships around the world, and this acquisition has clear synergies for both companies that will position us for future investments during our industry’s technology transition. We are relentless in our focus on Destination Zero, our company strategy to achieve net-zero emissions, and will lead in the transition to decarbonized power. This acquisition is an important step in executing on our strategy.”
As previously announced, the acquisition of Meritor is expected to be immediately accretive to Cummins’ adjusted EPS and generate annual pre-tax run-rate synergies of approximately $130 million by year three after closing, anticipated to be comprised of, among other things, SG&A savings, supply chain operations and facilities optimization. Cummins financed the acquisition, which had a total transaction value of approximately $3.7 billion, including assumed debt and net of acquired cash, using a combination of cash on the Cummins balance sheet, commercial paper and debt. The company remains committed to maintaining its strong credit ratings.
This article was originally published by Cummins Inc..
Kapsch TrafficCom, in collaboration with Construcciones Amenábar, has completed the upgrade of the Zarautz toll system in Gipuzkoa.
Natilus has partnered with ZeroAvia to develop the hydrogen-electric engine for its Natilus Kona autonomous blended-wing body (BWB) cargo aircraft Under this...
Imperium Drive has launched its Fetch car rental service in Milton Keynes, using remote driving technology to deliver vehicles to customers.
SkedGo explores how new technologies, use cases and integrations with MaaS could drive a more accessible and inclusive transport system.
Ebusco has signed a framework agreement to provide Oechies Elektrotechniek with maritime battery packs for its inland shipping barge. The initial agreement i...
Micromobility provider, TIER has demonstrated its pavement and tandem riding detection technology on its e-scooters in London. These new AI capabilities were...
Renault Group, EasyMile, StatInf, Equans, Alstom and Keolis plan to deploy Level 4 autonomous minibuses in Châteauroux, France.
Q-Free recently installed the first of four planned pedestrian and cycle counters for 2023 in the City of Gold Coast, Queensland, Australia.
Zeus has partnered with Zolar to launch the Litree solar-powered e-scooter charging pilot in Regensburg, Germany.
Aurora has designed an innovative cleaning system that prevents moisture and debris from building up on autonomous vehicle sensors.
The Federal Highway Administration has awarded over 52 million USD under the Advanced Transportation Technology and Innovation programme.
Harness the freedom to explore thanks to the Yulu Wynn Mobility Packs and innovative battery swapping infrastructure.
Gogoro has expanded its partnership with Bikebank to introduce Gogoro Smartscooters and battery swapping to seven additional cities in Korea.
Researchers have measured the effects of the ground on propeller noise, revealing that eVTOLs may cause significant noise pollution.
Waymo and Uber have announced a new multi-year strategic partnership to make the autonomous Waymo Driver available on the Uber platform.
Cubic Transportation Systems (CTS), a division of Cubic Corporation, has announced the release of Synchro Studio v12.
OLEDWorks explores why it’s important for automakers to work directly with OLED lighting manufacturers in the future.
BMW and TYDE have officially unveiled their battery-powered watercraft equipped with i3 batteries, at the Port de Cannes in France.
The London EV Show 2023 is set to be bigger than ever before, with over 100 exhibitors confirmed and just a few months to go.
Blade Air Mobility will operate and transform the Newport Helistop in Jersey City, New Jersey to prepare for eVTOL flights.
A record €169.6 million was collected on the M50 in 2022 via a barrier-free tolling system with image processing technology from Kapsch.
With a charging network of over 8,200 public chargepoints, you can find Pod Point chargers at the most popular holiday hotspots in the UK.
Lilium has signed a Flight Simulator and Training Agreement with FlightSafety International to prepare for certifying its eVTOL jet.
Aurora discussed the commercial scaling of self-driving fleets and what effects that will have on jobs and the economy.
NEXCOM’s AI-driven ATC 3750 is a powerful and compact vehicle computer that facilitates safer roads, and saves lives.
The US DOT and Transport Canada have announced the first cross-border EV charging corridor between the US and Canada.
UK-based aircraft lessor, MONTE has signed a Letter of Intent (LOI) to order up to 30 electric commuter Alice aircraft from Eviation.
Mohamed Mezghani of UITP tells us what to expect at the world’s largest event dedicated to public transport and sustainable urban mobility.
At Global Mobility Call in September, multi-sectoral partners from Spain and abroad will contribute to driving sustainable mobility forward.
Over the years, Uber's valuation has skyrocketed, and it has evolved from a ride-sharing service to a massive enterprise.
The collaboration will allow Iomob to integrate Q-Park’s extensive network of parking facilities into its mobility marketplace network
Neuron Mobility has unveiled its latest e-scooter model: the N4. The company said it was its most "rider-centric, sustainable and toughest e-scooter" to date...
OLED lighting technology can offer great benefits to drivers and automakers through increased functionality and potential cost savings.
The Bike2CAV project from Kapsch TrafficCom used connected vehicle technology, sensors and AI to improve safety for bike users on the road.
Ride-hailing provider, Lyft has launched new features within its app to make it easier for travellers to preorder a ride at the airport.
Archer Aviation has completed production of its first Midnight electric vertical take-off and landing (eVTOL) aircraft.
Yulu brings an easy-to-ride and intelligent electric 2 wheeler that is both practical and affordable, making it the EV of choice.
The North Carolina Department of Transportation (NCDOT) has launched its Advance Mobility NC initiative to provide a connected multimodal transportation system ...
Cisco is evolving to a regenerative, circular model in which it reduces the resources it consumes and the waste it generates.
FHWA has provided a Letter of Legal Sufficiency for MTA to advance the implementation of a congestion pricing programme in NYC.
Global Mobility Call, a major event for the mobility ecosystem, will host authorities and representatives from Latin American countries.
Professor Mariana Mazzucato will take to the stage for the UITP Global Public Transport Summit as 2023 keynote speaker.
Geotab has announced a partnership in Ireland with Nevo to help fleets on their sustainability journey and their switch to electric.
Pod Point gathered its picks for the top questions non-EV drivers want to know about owning an electric car.
The FAA has released an updated blueprint for US airspace to accommodate future air taxis and other advanced air mobility (AAM) operations.
Beep has announced an expanded partnership with Mattamy Homes to enable sustainable growth as more homes are built in Tradition, Florida.
Alaska Airlines has presented a Bombardier Q400 aircraft to ZeroAvia to be retrofitted with hydrogen-electric propulsion technology.
HumanForest has raised 12 million GBP in Series A funding to expand its e-bike fleet in London and operate in five new boroughs.
Oleg Karaman and Adam Sickmann from ThousandEyes Cisco, discuss the impacts of internet outages on the transportation industry.
According to an IFOP study, over half of people in European cities want more space dedicated to micromobility parking rather than cars.
May Mobility and Via have launched Arizona's first on-demand public transit service using autonomous vehicles (AVs).
EasyMile showcases its “TractEasy” driverless tow-tractor at the LogiMAT International Trade Show in Stuttgart.
Magpie Aviation has presented its aeroplane towing concept, 'AeroTow' to enable electric aircraft to travel greater distances.
Bolt has launched a new Bolt Black Cab offering that allows users to order a London black cab through the Bolt platform.
Cubic's Umo Mobility platform is commencing an innovative pilot in Temuco, Chile – the first Umo implementation outside North America.
At smart city, Peachtree Corners, Curiosity Lab has partnered with Spoke to deliver a connected IoT ecosystem for vulnerable road users.
Q-Free has extended its Software as a Service advantages to the entirety of its kinetic mobility platform.
Kapsch TrafficCom and Microsec announce the next evolution of their strategic collaboration focused on management solutions.
SkedGo believes that as the world’s population continues to grow and shift, so do the demands on our transportation systems.
Autonomous mobility provider, Beep has partnered with the Contra Costa Transportation Authority (CCTA) to deploy autonomous shuttles in Northern California. ...
Gogoro has partnered with Ayala and Globe Group’s 917Ventures to deploy Gogoro Smartscooters and battery-swapping in the Philippines.
Torghatten AS Stockholm is launching the world's first self-driving commercial passenger ferry in Sweden in June 2023.
Visit booth #1317 at ITS America and discover how Cisco is driving simplicity, scale, security, and innovation for road infrastructures.
Neuron Mobility has unveiled its Augmented Reality (AR) Parking Assistant to help ensure e-scooters are parked responsibly.
EasyMile's autonomous shuttles operating at the Terhills tourist site in Belgium have commenced fully driverless service.
ATOM Mobility pulled together some of the most creative, fun, and effective shared mobility marketing campaigns of the last several years.
Zipcar believes that embracing multimodal transportation can bring you one step closer to a sustainable lifestyle.
BMDV has announced funding for the MINGA research project, which is focused on advancing the use of autonomous vehicles in Munich.
Beryl and Fujitsu have launched a research project to improve the efficiency and sustainability of e-scooter operations on the Isle of Wight.
Moovit has partnered with May Mobility to accelerate the use of shared autonomous vehicles (AVs) in urban transport networks.
The European Hydrogen Summit will explore decarbonisation and hydrogen as an alternative energy source to gas, coal and oil.
Cubic Transportation Systems has announced industry-leading improvements to its Gridsmart cameras product line.
Geotab has opened an Automotive Innovation and Research Hub in High Wycombe, England to support a cleaner and more sustainable future.
Ford has received DfT approval to launch its “hands-off, eyes-on” advanced driver assistance system, BlueCruise on motorways in Britain.
Asda customers in West London can now have their shopping delivered using Wayve's self-driving vehicles as part of a year-long pilot.
Visitors to Hannover Messe can experience EasyMile's KelRide weather-proof shuttles both in service and on display at the event.
The safe and sustainable future for the e-scooter revolution is arguably dependent on effective and productive regulation.
Geotab and Driving for Better Business have forged a brand-new business partnership to promote driver safety.
Pod Point has announced the first of a number of exciting new features it has been working on to make EV charging easier and more convenient.
Volocopter, the pioneer of urban air mobility (UAM), recently announced the opening of its production facilities in Bruchsal.
NaaS Technology has launched an automatic charging robot that can charge electric vehicles (EVs) while they are parked and unmanned.
On 13 April, the second edition of Global Mobility Call, which will take place in Madrid on 12-14 September 2023, was presented worldwide.
Uber has partnered with bike-sharing service, Tembici to make bikes and e-bikes available on the Uber platform in South America.
Autotalks, Volkswagen (VW), Bosch eBike Systems and Commsignia have demonstrated how V2X communication can prevent bike-vehicle collisions.
NYC DOT Commissioner, Ydanis Rodriguez has announced a pilot programme that will test the effectiveness of local delivery microhubs.
Kapsch TrafficCom recently released a major update to its Automatic Number Plate Recognition (ANPR) software.
Dubai's Roads and Transport Authority (RTA) has initiated a period of data collection and testing of Cruise's autonomous vehicles.
The PANYNJ has partnered with NASA to collaborate on planning for the future of urban air mobility in New York and New Jersey.
Holland Shipyards Group, Sequana Développement and Roboat's 3D-printed, autonomous electric ferry will operate on the Seine in Paris.
ATOM Mobility gives an overview on what payment gateways are, what payment processing solutions integrate with ATOM Mobility, and more.
The National Association of City Transportation Officials has published a paper on infrastructure design for micromobility vehicles.
The Aurora Driver has now entered the final phase of development, with plans to launch commercially next year.
Residents of Paris voted "For or against self-service scooters," with results revealing that 89.03% were against the use of shared e-scooters.
Waymo has announced plans to test its fifth-generation autonomous driver on the Jaguar I-PACE platform in Austin Texas.
Transport for London (TfL) has unveiled a new plan to promote and expand the use of cargo bikes within the capital.
The German government is providing funding to develop a fuel cell system for maritime shipping, which will be tested on a cruise ship.
Global Mobility Call, 12–14 September, will be a key meeting place to draw up solutions for the sustainable mobility of people and goods.
MCTS now offers customers enhanced flexibility and convenience through WisGo, its new fare collection system powered by Cubic.
Pod Point plotted a route starting at Land’s End and ending in John O’Groats, complete with the stops needed to ensure your EV can make it.
Use the form opposite to get in touch with Cummins Inc. directly to discuss any requirements you might have.