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BRIEF-Eaton, Cummins announce joint venture
April 10, 2017 / 1:59 PM / 8 months ago

BRIEF-Eaton, Cummins announce joint venture

April 10 (Reuters) - Cummins Inc:

* Eaton and cummins Inc announce joint venture for automated transmissions for heavy- and medium-duty commercial vehicles

* Under terms of agreement, Eaton will receive $600 million in cash from Cummins for 50 percent interest in joint venture.

* Cummins and Eaton will each own 50 percent of new joint venture

* Cummins will consolidate joint venture results as part of its components business segment Source text for Eikon: Further company coverage:

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