Cummins Buys All of Tata Holset Ltd.
Cummins Inc. said it has acquired the remaining equity ownership in Tata Holset Ltd. from the Tata Group of Companies. Cummins' subsidiary, Cummins Turbo Technologies, and the Tata Group have manufactured turbochargers through a 50/50 joint venture agreement since 1994.
Tata Holset will be renamed and rebranded as Cummins Turbo Technologies, in line with the Company's branding strategy announced last year.
"We have enjoyed our partnership with the prestigious Tata Group over the last 12 years and will continue to sell our Holset-branded products to Tata Motors, one of our key strategic customers," said Jim Lyons, President, Cummins Turbo Technologies. "This move will enable us to further leverage the Cummins brand in
Cummins Turbo Technologies will continue to market turbochargers and other products under the Holset brand. Along with Tata Motors, Cummins Turbo Technologies' other key Indian customers include, Cummins India, Eicher Motors, Mahindra & Mahindra and Tata Cummins - a joint venture partnership between Cummins Inc. and the Tata Group. Tata Cummins will not be affected by the change in the equity holdings.