Author: BusinessWire Online News

Allison Transmission Closes Offering of $1 Billion Aggregate Principal Amount of 3.750% Senior Notes Due 2031

INDIANAPOLIS–(BUSINESS WIRE)–Allison Transmission Holdings, Inc. (NYSE: ALSN) (“Allison” or the “Company”) today announced that its wholly owned subsidiary, Allison Transmission, Inc. (the “Issuer”), completed its previously announced offering of $1 billion in aggregate principal amount of 3.750% Senior Notes due 2031 (the “Notes”) in a private placement (the “Offering”) exempt from registration under the Securities… Continue reading Allison Transmission Closes Offering of $1 Billion Aggregate Principal Amount of 3.750% Senior Notes Due 2031

Valmet Automotive successfully completes the sale of its Engineering Services business

Valmet Automotive now has successfully completed the sale of its Engineering Services business to Mutares SE & Co. KGaA, after having received the approval of the antitrust authorities. Valmet Automotive is now focusing its engineering efforts on Electric Vehicles battery systems, on roof and kinematic systems, as well as the manufacturing engineering for its products,… Continue reading Valmet Automotive successfully completes the sale of its Engineering Services business

Cummins Leadership Shares Hydrogen Technology Strategy and Plans for Continued Growth

COLUMBUS, Ind.–(BUSINESS WIRE)–Cummins Inc. (NYSE: CMI), a global power leader, today shared how the company plans to grow its fuel cell and hydrogen production business and further solidify the company as a global power leader. “As the world transitions to a low carbon future, Cummins has the financial strength to invest in hydrogen and battery… Continue reading Cummins Leadership Shares Hydrogen Technology Strategy and Plans for Continued Growth

Cummins Closes on NPROXX Joint Venture for Hydrogen Storage

COLUMBUS, Ind.–(BUSINESS WIRE)–Cummins Inc. (NYSE: CMI) today announced that it closed on the previously announced NPROXX joint venture with ETC for hydrogen storage tanks. “NPROXX’s leading hydrogen storage products are an exciting complement to our broad and differentiated hydrogen portfolio,” said Amy Davis, Vice President and President, New Power at Cummins Inc. “Many companies aspire… Continue reading Cummins Closes on NPROXX Joint Venture for Hydrogen Storage

Cummins to Open New Fuel Cell Systems Production Facility in Germany, Strengthening Its Commitment to Hydrogen in Europe

COLUMBUS, Ind.–(BUSINESS WIRE)–Cummins Inc. (NYSE: CMI) today announced it will open a new facility in Herten, Germany, which will initially focus on the assembly of fuel cell systems for global transportation leader Alstom’s hydrogen trains. As a global power leader, Cummins has a strong presence in Europe. Employing more than 6,700 people across Europe, Cummins’… Continue reading Cummins to Open New Fuel Cell Systems Production Facility in Germany, Strengthening Its Commitment to Hydrogen in Europe

Cummins and Navistar to Collaborate on Heavy-Duty Class 8 Truck Powered by Hydrogen Fuel Cells

INDIANAPOLIS–(BUSINESS WIRE)–Global power leader Cummins Inc. (NYSE: CMI) and Navistar International Corporation (NYSE: NAV) will work together on the development of a class 8 truck powered by hydrogen fuel cells. The project will be funded in part through an award from the U.S. Department of Energy’s (DOE) Office of Energy Efficiency and Renewable Energy (EERE)… Continue reading Cummins and Navistar to Collaborate on Heavy-Duty Class 8 Truck Powered by Hydrogen Fuel Cells

Allison Transmission Prices Offering of $1 Billion Aggregate Principal Amount of 3.750% Senior Notes Due 2031

INDIANAPOLIS–(BUSINESS WIRE)–Allison Transmission Holdings, Inc. (NYSE: ALSN) (“Allison” or the “Company”) today announced that its wholly owned subsidiary, Allison Transmission, Inc. (the “Issuer”), priced its offering of $1 billion in aggregate principal amount of 3.750% Senior Notes due 2031 (the “Notes”) on November 9, 2020 in a private placement (the “Offering”) exempt from registration under… Continue reading Allison Transmission Prices Offering of $1 Billion Aggregate Principal Amount of 3.750% Senior Notes Due 2031

Valmet Automotive expands production capacity of battery packs in Salo

Valmet Automotive is extending the battery plant in Salo, Finland after less than 12 months of operation to meet the needs of increased production volumes of battery packs. The extension will increase the production capacity of battery packs and double the number of employees in the next few years. The construction work has already started and will… Continue reading Valmet Automotive expands production capacity of battery packs in Salo