COLUMBUS, Ind. — Cummins Inc. stock reached an all-time high after the Columbus-based company announced a deal to supply engines for truckmaker Hino Trucks.
On Monday, Cummins’ stock briefly traded at $276 — the highest price in the company’s history — before closing at $275.99.
The all-time high came three days after Hino Trucks said it plans to start making medium- and heavy-duty trucks with Cummins engines for the North America market by the end of the year, the two companies said in a joint announcement on Friday.
Hino Trucks plans to offer Cummins B6.7 and L9 engines in Hino’s L and XL Series model trucks, with production expected to start in October at Hino Trucks facilities in West Virginia and Canada.
The engines will be made at Cummins’ Rocky Mount Engine Plant in North Carolina, Cummins said in the announcement.
Hino Trucks, a Toyota Group company headquartered in Michigan, describes itself as the third largest truck manufacturer in the world, according to the company’s website.
For more on this story, see Tuesday’s Republic.
