U.S. Medium & Heavy Truck Aftermarket to Exceed $12 Billion in 2010
The U.S. aftermarket for medium- and heavy-duty (MD/HD) truck components and parts is projected to increase at an annual rate of 3.9 percent, exceeding $12 billion in 2010. Some segments of the market such as electronics and emissions controls are expected to experience even faster growth, according to Cleveland-based market research firm The Freedonia Group.
Cummins to Produce High-Performance, Light-Duty Diesel Engines with North American OEM Partner
Cummins Inc. has reached an agreement with a major automotive manufacturer to produce and market a light-duty, diesel-powered engine for the North American market. Cummins’ OEM partner wants its identity to remain confidential for competitive reasons. As part of the agreement, Cummins will develop and manufacture a family of high-performance, light-duty diesel engines for a variety of automotive applications in vehicles below 8,500 pounds gross vehicle weight, including standard pickup trucks and sport utility vehicles. Certain bus, marine and industrial applications also will be served by this engine family.
Cummins Turbo Technologies Opens New Manufacturing Facility in Charleston
Cummins Turbo Technologies, formerly known as Holset Turbochargers, has officially opened its newest manufacturing plant in Charleston, SC. The business, a division of Columbus, IN-based Cummins Inc. is headquartered in Huddersfield, England, and is one of the world’s largest manufacturers of turbochargers for diesel engines. The new 110,000-square-foot plant will produce turbochargers for heavy-duty engines and will complement the company’s existing manufacturing facility in Charleston.
PACCAR Reports Best Quarter in its 101-Year History
PACCAR has reported record revenues and net income for the second quarter and first half of 2006, according to Mark Pigott, chairman and chief executive officer. Pigott attributed the company’s market share gains to global economic growth and accelerated new product introductions, complemented by excellent financial services and aftermarket parts programs.
Nominate Your Pick for the 2006 Heavy-Duty Technician of the Year
Bendix Commercial Vehicle Systems LLC, Dayton Parts, LLC (DP, LLC), Haldex and SKF have banded together to create a new recognition for fleet technicians. The four companies announced they are now accepting applications for the 2006 Technician of the Year Award program. The companies created the program in 2005 to recognize a fleet’s “superstar” technician, who exemplifies the best qualities of the profession, including his/her technical and mechanical experience, service specialties and overall contributions to the industry.
Modine Introduces New Green Technology to Help Truckers Cut Emissions and Save Money
Modine Manufacturing yesterday unveiled a new fuel cell product that it says will reduce emissions, help the environment and cut costs for over-the-road truck drivers. This new advanced idle reduction system (idle-off) incorporates high efficiency, zero emissions fuel cell and utilizes a non-greenhouse gas, carbon dioxide (CO2), as the refrigerant. This idle-off system can be used for both cooling and heating the sleeper cabin in a heavy-duty truck, creating multiple benefits for truck drivers and fleets, according to Modine.
Affiliate Sold Engines to Sudanese Military, Cummins Says
Representatives for Cummins Inc. recently traveled to China to smooth over controversy that erupted when Amnesty International reported in June that Cummins engines were found in military trucks sold to Sudan.
Cummins Announces Share Re-Purchase, Increases Dividend
The Cummins Inc.’s Board of Directors has authorized the company to acquire an additional 2 million shares of Cummins common stock. In June, Cummins completed the purchase of $100 million worth of common stock that began in September 2005. The company has approximately 52 million shares outstanding.
Penray Launches New Website
Penray has launched a new website, www.penray.com , to serve as a valuable resource for both customers and consumers.The company said it hopes the redesign also reflects its position as a leading global corporation specializing in the heavy-duty and automotive chemical industries.
Commercial Vehicle Group Expanding Manufacturing Facility in Mexico
Commercial Vehicle Group (CVG) has announced plans to expand its Electrical/Mechanical Division (EMD) by adding a 175,000-square-foot manufacturing and technology facility in Agua Prieta, Mexico. The new facility will consolidate three existing facilities currently operating in Agua Prieta and provide for future growth and expansion.
Commercial Vehicle Group Named to New NASDAQ Global Select Market
Beginning July 3, Commercial Vehicle Group, Inc. (CVGI) will be included in the new NASDAQ Global Select Market. Prior to the change, the company had been listed on the NASDAQ National Market. CVGI joins other motor vehicle related businesses such as Monro, which was also recently named to the new index. NASDAQ announced the new three tier listing classification in February.
Detroit Diesel Launches ‘The Real Deal’ Campaign
Detroit Diesel recently launched a new campaign called “The Real Deal,” which focuses on training service network personnel about the better value and higher reliability that their customers will get when they select only genuine Detroit Diesel parts, components and engines. The company wants to help customers understand the significant difference between genuine and non-genuine parts.