Cummins In Another China Venture
Cummins Inc. will set up a $240 million venture to build engines with Chinese vehicle maker Beiqi Foton Motor Co. Ltd. The 50-50 venture, which would be set up in the third quarter, would make 2.8 and 3.8 L diesel engines, Foton said in a statement in the official Shanghai Securities News. The engines would be available as early as 2008, and would be used to power Foton's pick-up trucks and vans.
The venture would also sell the engines to other manufacturers in both the domestic and overseas markets, it added. The venture marks the latest investment by the